3 Reasons To Refinance Your Mortgage

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3 Reasons To Refinance Your Mortgage
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• There may come a time in life when refinancing
  your mortgage is a viable option, and there are
  several reasons in which this might be the case.
  To find out if refinancing your mortgage is a
  wise decision for you, speaking to a mortgage
  broker or financial advisor could help you
  decide.
• To give you a brief rundown of the 3 most popular
  reasons for refinancing, and see our guide below

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• 1. To get a lower rate
• Many homeowners seek to refinance their mortgage
  in order to get a lower rate, but its important
  to shop around with the help of a qualified
  mortgage broker, to make sure that you get the
  very best rate available. Note that mortgage
  brokers often have access to deals that arent
  directly available to the public.
• With the help of your mortgage broker, read
  through all of the fine print and ensure that it
  gives reasonable flexibility for the possibility
  of real estate or personal and circumstantial
  changes, that may occur in the future. Think
  carefully whether a variable, or a fixed rate
  mortgage would be best your mortgage broker can
  also help you with this decision.

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• 2. To consolidate debt
• If youre refinancing your mortgage to pay down
  or close your credit, its imperative that you
  carefully choose between those two options. Once
  the refinance is complete, if you want a credit
  card or credit line to remain accessible to you,
  youll need to have your mortgage broker check
  that this will still be possible.
• You might be able to increase your mortgage
  payment to pay it down quicker if your total
  monthly payment drops, and in doing so, youll
  still save money on interest.

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• 3. To make renovations to your home
• Calculate the cost of renovating your home, and
  ensure that you get enough funds when refinancing
  to cover all of the work. Talk the entire project
  over in detail with your general contractor
  and/or project manager to get a full and detailed
  understanding of exactly how much money the
  renovations are likely to cost, taking into
  account unexpected extras, too.
• Unfinished projects due to a shortage of money
  can lead to a frustratingly unlivable home, and
  perhaps more importantly, further debt. Even if
  you take out more money than you need, you can
  put the money back against your mortgage, in the
  form of a mortgage prepayment.

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• Never be afraid to seek professional help when it
  comes to making any mortgage related decisions,
  as sometimes, a little investment in the right
  advice, can save you hundreds, if not thousands
  of dollars further down the line.
• Mortgage-broker-Calgary is your best resource for
  finding a mortgage for your property. Luke Wile,
  is a Calgary mortgage specialist and is proud to
  serve clients from across Canada, while being
  centered in Calgary, Alberta. Luke is proud to
  serve his clients with a personalized approach to
  finding his clients the best and lowest Canadian
  interest rates and terms offered by the major
  banks and private lending institutions. If you
  are looking for 2nd mortgage in Calgary, with
  Luke Wile you can get fast and personal expertise
  for your mortgage!