mortgage Refinance Alberta
Now is a Great Time to Refinance
Interest rates are historically very low, making real estate more affordable for many. Refinancing your mortgage is considered a secured loan and therefore less risky for lenders. This means that you can get much lower rates with unsecured loans.
There are many reasons why you might want to refinance your mortgage in Alberta, including:
- rates have dropped significantly since you assumed your mortgage
- you want to pay your mortgage off faster
- your credit score has significantly improved, qualifying you for a better discounted rate
- you want to lock in today’s rates for a new 5 year term
- you want to increase your mortgage and take out equity to pay off bills, make a large purchase, do home renovations or improvements, pay for college, invest, etc.
- you want to change from a variable rate to a stabilized fixed rate
- your financial circumstances have changed
Some mortgages will have penalties and fees to refinance, so it may not make sense in some cases. In other cases, refinancing your mortgage could save you thousands over the term.
Financing
You’ve worked hard for your home, so let your home work for you. There are options to use your home to get the financing you need.
- Debt Consolidation
- If you have high interest, credit cards, store cards or other loans, you can get a low rate secured loan using the equity in your home to pay down high interest and save money while lowering your monthly payments.
- Home Equity Loans
- Get a secured loan or line of credit using your home as security to access low interest rates from lenders.
- Second MOrtgages
- We can help you find a lender and get a great rate on a second mortgage for your home.
Refinance Experts
Award Winning Broker
Talk to Jim Black, accredited mortgage professional and refinancing expert at Mortgage Loans Alberta.
He can sit with you to look at your finances and goals and do the calculations to determine if refinancing your mortgage is your best option.
If so, we can access hundreds of lending products across Canada to bring you the best mortgage refinancing options and rates. Call today!
Mortgage Refinance
