Refinance and Consolidate Your Debts
With the significant increase in house prices over the past few years, many home owners have built up considerable equity in their homes.
For those who are carrying other high interest debts it makes lots of sense to use the equity in your home to consolidate these debts into one low monthly payment. Basically we arrange a larger mortgage for you and pay off the higher interest debts.
Ask your self these questions:
- Are you making multiple (three, four or more) different payments each month?
- Do you find yourself making minimum payments on your credit cards and lines of credit every month?
- Are your other creditors charging interest rates which are higher than today’s mortgage rates
If you answered yes to any of the above questions contact us discuss whether a refinancing and debt consolidation loan is right for you.
Do remember that even if your original mortgage was insured, you only pay the insurance premium on the new money borrowed.
- Owner Occupied-up to four units with at least one unit occupied as the principal residence- existing properties only (not for new construction)
- Secondary Homes or investment properties up to 2 units properties (not for new construction)
Loan-to-Value Ratio Limits
The maximum amount you can borrow is 80% of the appraised value of your property.
Amortization Limits Options
The maximum repayment period (amortization) is 30 years.