Posted on
November 28/2022By
northwood
Your house is most likely the biggest investment of your life, and that investment was made possible by a low mortgage rate. Taking out a low mortgage rate is a huge life commitment as you’ll have to repay it in the next 15 to 30 years, so you must find ways to relieve yourself from this burden. One of the best ways to reduce the stress of your mortgage is by refinancing. Refinancing your mortgage means paying off an existing loan and replacing it with a new low mortgage rate. It might sound weird to replace the old mortgage with…
Posted on
November 08/2022By
northwood
Refinancing your mortgage in Ontario may be your smartest financial move this year. Refinancing may sound strange to some people; why would you ever take out a new mortgage to repay your current one? Well, there are multiple benefits to refinancing your mortgage, and we’re going to go over some of the most important ones in this article. Most Canadians are stuck on the idea that your mortgage is unchangeable, but that isn’t true. And if you’re not considering mortgage refinancing in Ontario, you’re likely losing thousands of dollars that you could save each year. So, buckle down, and let’s…
Posted on
June 14/2021By
northwood
Homeowners may have a number of good reasons for wanting to refinance their home, such as gaining access to the equity or getting a lower interest rate. Depending on your personal goals, there are many benefits you can gain from refinancing your mortgage. What is mortgage refinancing? When you refinance your mortgage, you are paying off your current lender and taking out a new mortgage. There are a variety of mortgage options available, which means you can get new terms and conditions for your mortgage. 5 Benefits of Refinancing Your Mortgage Here are some of the biggest advantages of refinancing…
Posted on
April 12/2021By
northwood
If you’re struggling to pay your mortgage because you’re in between jobs or facing economic hardships due to the pandemic, then it’s time to consider refinancing your mortgage. First, let’s define what mortgage refinancing in Ontario is and then take a closer look at 5 steps for preparing to refinance your mortgage. What is mortgage refinancing in Ontario? Mortgage refinancing means you trade in your first mortgage for a brand new one with a balance renewal. When your bank or lender agrees to refinance your mortgage, they agree to pay off the remaining principal balance on your first mortgage, while…
Posted on
January 04/2021By
northwood
Buying a home is a big purchase and comes with a hefty price tag. To pay for it, most people take out a mortgage. A mortgage is a large loan from a financial institution that comes with its own costs in the form of interest rates. It is vital to get a mortgage with a low interest rate. However, if you find yourself paying more for your mortgage than you’d like, you can refinance it for a lower rate. Mortgage Refinancing Refinancing your mortgage in Toronto is essentially paying off your current mortgage and taking out a new one. However,…
