There are many different reasons why you may want to refinance, or increase your existing mortgage:
- To consolidate high interest debt
- To pay for your child’s Post Secondary or University tuition
- To make improvements on your home
- To pay for that dream vacation you’ve always wanted to go on
- To purchase an investment/revenue property
- To purchase a vacation property or second home
- To assist your child with a down payment on their first home
- And more!
Before you begin the process you will first want to have your mortgage professional do a cost of borrowing analysis to find out first that what you are thinking of doing makes financial sense. If at the end of the day it cost you $1000 to save $500, does that really make sense? Proper advice, planning and a good solid strategy along with proactive and on going mortgage management are key here. Give us a call, we look forward to working with you.
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