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Mortgage refinancing has become increasingly popular for those who are stuck with high-rate mortgages from the past. There are several reasons why refinancing your mortgage might make sense for you:

• Get a lower fixed mortgage rate
• Convert your variable rate mortgage to fixed to protect you against possible interest rate hikes
• Consolidate multiple mortgages into just one:
• Consolidate debt
• Renovations and other home improvements
• If you need money for any other reason

I can help you decide whether now is the right time to refinance, or if it will make more sense down the road. Refinancing should be thought through carefully, and expenses need to be factored in, such as penalties to break your current mortgage and legal fees. These are all things we will look at for you in detail to ensure you are making the best possible decision.

Renewing your mortgage is just as important as getting your first one. However, many people make the mistake of simply signing the renewal papers from their current mortgage lender. The problem with this is that banks are aware of this tendency and therefore, are not likely to offer you their best rates. That’s why it’s crucial to shop around and see what other options are available. Most importantly, it won’t cost you anything to switch a mortgage to another lender, but failing to do your research may cost you thousands of dollars.

Whether you want to refinance your existing mortgage or make use of your home equity for any purpose that you desire, the decision to refinance requires proper planning and consideration of several factors. A Home Equity Loan, also known as a second mortgage, lets homeowners borrow money by leveraging the equity in their home and gives you more borrowing power and lower rates than personal loans and credit cards. Find out how much buying power you could unlock with a Home Equity Loan.

When you get a private mortgage, an individual lends you the money instead of a financial institution. Approval is usually based on the equity in your home, location and marketability, rather than your income and credit. Private mortgages are generally associated with higher interest rates than bank loans, and there may be additional fees as well. These fees are typically deducted from the mortgage proceeds, so you may not need to pay anything upfront. Instead of getting a private mortgage, consider reaching out to discuss HELOC or other mortgage solutions that fit your needs.