A lot of people think that all a mortgage broker can do is finance a new purchase, but this is not the case. I can offer a variety of home financing options. When you first get a mortgage, you are set up with a amortization (full length of your mortgage) as well as a term (a shorter period of time within that amortization). At the end of that term, your current mortgage holder will likely send you out a notice that your mortgage is coming up for renewal, usually about 90 days prior, but that doesn’t mean it’s the best option for you. When you get that letter in the mail, don’t just sign on the dotted line, give me a call and I can let you know if your current financial institution is offering you the best mortgage out there. I will do the research for you just like I do on the purchase of a new home to make sure you are getting the mortgage that best suits your needs.
One of the other options I can offer is home refinances. Refinancing your home can be a great way to take out equity to do a variety of different things. Some of the most common things people do with this money is pay down debt, go on a holiday, do renovations on their current home, put more money into investments or even use that money as a down payment toward a second home (rental or vacation). There are so many opportunities for you with a refinance. New lending rules allow us to refinance up to 80% of your home’s appraised value. If you have questions or want more details on this, give me a call.
Never assume there is only one option for you. As a mortgage broker, I can show you different ways to reach your financial goals. Whether you’re purchasing your first home or looking to pay down some debt and aren’t sure where to get the money from, give me a call and I can help find a solution.