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Refinancing: The Right Strategy at the Right Time

Your mortgage isn’t just a piece of paper. It’s an active and valuable participant in your overall financial strategy. Refinancing could be too.
 
Why Refinance?
  • To get a better interest rate
  • To extend the term of your current mortgage 
  • To free up equity for other purposes
  • To consolidate debt
Taking Advantage of Lower Interest Rates.
Interest rates are still historically low. Good sense would suggest that now is the time to act. A lower rate can reduce your monthly payments. Or you can pay the same per month and shorten the amortization period. You can also lock in peace of mind and convert your variable rate mortgage to a fixed rate option. 
 
Tapping into Your Equity.
Financing a renovation that will add value to your property, or consolidating debt that carries at substantially higher rates – these are excellent reasons to refinance. Just be aware that refinancing is not designed to be an ATM, but a smart strategy to ultimately enhance your net worth.
 
Refinancing is not Free.
As with a new mortgage, there may be legal and appraisal costs. There could be a prepayment penalty on your current mortgage. Generally, these costs are well worth it: it’s my job to show you if the numbers work.
 
Lower Qualifying Rate
As of May 25, it is now slightly easier to qualify for a mortgage. The qualifying rate that is used in stress tests for both insured and uninsured mortgages has gone down to under 5%. A lower rate means it's easier for borrowers to qualify.
 
Great Deals!
Lenders are offering some great deals, like 3 months interest free. Now is the time to take advantage of these great promotions!
 
Making your Biggest Investment your Best.
The key to refinancing is the big picture. Call me. Because today more than ever, a savvy refinance can be a brilliant plan.

Sincerely,

Adrian Perry

For More Information Please Contact:


Adrian Perry

Mortgage Professional
Direct: 416.990.9499
Fax: 1.888.588.1346
aperry@orianafinancial.com
www.mortgagesbyadrian.com
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