Refinancing Your Mortgage
Refinancing your mortgage can free up equity in your home for remodeling, debt consolidation, investments and more!
Benefits To Refinancing
Canadians today face many reasons to refinance their mortgage. For example, you may have been working at improving your credit score and now qualify for a new mortgage with a better discount, or you may want to stabilize your payments by changing from a variable rate mortgage to a fixed-rate.
Refinancing is also a good option to pull out equity for consolidating debt, home improvements, investments, college expenses, and more. Depending on your needs, it’s important to understand the pros and cons to refinancing.
Depending on your current term and rates, refinancing could potentially increase your monthly payments and interest rates.
At AMLS our mortgage professionals are here to explain each option so you can make the best decision for your financing needs now and in the future.