Refinance

Refinancing Your Mortgage

If your personal life in Willowbrook has drastically changed or interest rates have dropped significantly since you last signed your Willowbrook mortgage agreement, you may find yourself interested in exploring avenues to refinance your mortgage.

Guess what??

You've come to the right place.

I'm an ethical licensed mortgage broker helping borrowers (just like you!) to better understand their current mortgage in Willowbrook, and discover mortgage options which may be a better fit financially.

Refinancing your mortgage in Willowbrook has potential to unlock new opportunities and save you money. Chatting with a licensed mortgage broker (such as myself!) is a recommended avenue to finding out whether refinancing your Willowbrook mortgage truly is the best option.

Now, let's dive into what the heck it means to 'refinance' your mortgage!

'Refinancing', Made Simple

Refinancing your mortgage in Willowbrook can sound like a frightening idea, but with the proper assistance you'll be able to refinance (or choose a different mortgage option!) with confidence.

When you refinance your Willowbrook mortgage, you're renegotiating your existing mortgage agreement before your renewal date.

You may be interested in refinancing your Willowbrook mortgage if:

• You want to ride the train of significantly better interest rates
• You're carrying high interest debts which you'd like to consolidate into a lower interest rate
• You require extra funds to give your Willowbrook house a facelift
• You may benefit from lower monthly payments by extending your amortization
• Your income has shifted and you have more or less funds to contribute to your mortgage

Costs Regarding Refinancing Your Willowbrook Mortgage

Refinancing can be a smooth process, but it can also come at a cost.

Working with a licensed Willowbrook mortgage broker (such as myself!) is a great way to create an actionable plan which makes financial sense for refinancing your mortgage.

Common costs associated with refinancing are:

• Broker fees (depending on the complexity and lender) or legal fees
• Survey fees/appraisal fees
• Penalties for breaking your Willowbrook mortgage agreement (ie. pre-payment penalties)
• Fees for switching lenders (in some cases)
• Fees for registering your Willowbrook mortgage

Keep in mind that no two mortgage situations are exactly the same.

Refinancing may be a great solution for some borrowers, but not the best fit for you.

Let's connect to explore your Willowbrook mortgage options so that you can make well-informed decisions regarding your mortgage.

Preparing For An Optimal Willowbrook Mortgage Refinance

Your offers to refinance are heavily influenced factors such as your unique borrowing situation, the current economy, interest rates, lender promotions etc.

Hop into the driver's seat and begin preparing for an optimal Willowbrook mortgage refinance by:
 

• HAVE A CREDIT SCORE THAT IS ‘GOOD’ OR ‘EXCELLENT’
  • You can achieve this by paying bills on time, having varied credit lines, and maintaining low credit utilization/debt ratios.
    
     
• WORK WITH ME! (YOUR LICENSED MORTGAGE BROKER)
  • We have access to hundred's of lender programs and will always work in your best interests - we're licensed to do so after all!
    
     
• REFINANCE WHEN IT MAKES SENSE
  • Refinance your Willowbrook mortgage by planning accordingly - if rates are forecasted to drop next month, it may be better to wait
     
• MAINTAINING LOW DEBT RATIOS
  • This is a bit of a complex concept because you would think that a lower interest rate than what you currently hold MUST save you money, but depending on the term of the contract and the amortization period, it may end up hurting your pocket in the long run.

The Next Steps For Refinancing Your Mortgage

Connect with myself, Chantelle Benzies (licensed mortgage broker) to discuss whether refinancing your mortgage is in your best interest.

I'll always put your best interests first when assessing whether refinancing is a suitable option. Our chats remain confidential, so you can rest assured your personal information is respected.

To discuss refinancing your mortgage and other mortgage options, give me a no-risk call today!

***other conditions may apply to anything written in this article; the information provided on this page should NOT be implicitly relied upon, and may not be fully up to date. Contact us for the most current information***