Unlock equity in your home

Do you need an affordable source of extra financing? You may be able to unlock some of your home equity, giving you access to credit at rates that are generally lower than other forms of borrowing.

One of the primary reasons for refinancing is to deal with too much high-interest credit card debt that is overburdening your monthly cash flow. Rolling that that debt into your mortgage can often give you a tremendous financial boost. You can improve your monthly cash flow, save thousands in interest, eliminate the stress of multiple debt payments, and be mortgage-free quicker.

Why it makes good financial sense to tap into home equity:

Refinancing your mortgage can give you some financial breathing room. It can allow you to reallocate funds for other important purposes for your family and lifestyle, such as:

• Home renovations that improve the value of your home
• For investing or a large RRSP contribution
• Postsecondary education
• Large upcoming expense i.e. wedding, new car
• New business or self-employment
• To create a financial buffer for future needs
• Retirement planning i.e. to supplement income, freedom to travel, home care, medical expenses, pay for ongoing bills like property taxes

An experienced Mortgage Broker or Agent available at MortgageProOntario.ca can advise how much equity you can leverage, and what your monthly payments would be. You may be surprised at how the power of your home equity can help you achieve your goals and long-term financial security.