Refinance Mortgage In Ontario
Serving Mortgage Refinance Services in Burlington, Oakville, Hamilton, and the GTA
Refinancing the mortgage on your home may be just what you need to accomplish your financial goals and get ahead. Your property has value, why not put it to better use to secure better terms? Learn how mortgage refinancing works, how it can help you, and why you should choose Mission 35 Mortgages Burloak to guide you through the process.
Why Choose Mission 35 Mortgages Burloak For Refinance Mortgage In Burlington?
At Mission 35 Mortgages Burloak, your success is our priority. When you choose us for your refinance mortgage in Burlington, you’ll gain a distinct advantage over working directly with your current lender or other mortgage advisors.
We specialize in mortgage refinancing services in Burlington and the GTA, offering expert guidance and personalized solutions tailored to your unique financial needs.
- Transparent Interest Rates: Our interest rate transparency means you’ll pay our advertised low variable rates. Whether it’s a 25 or 30 year amortization, that rate is still available. We also have great fixed rates available.
- Third-party advice: You’re our client, not the lenders. That means we are in a better position to offer you honest advice about what is right for you. That goes for everything from your mortgage terms to how much you can afford.
- Clear terms: We make sure that you understand what the terms are, what they mean and how best to navigate them. That’s why we offer clear explanations throughout your refinance process.
- Personalized Service: We’ll guide you through the entire refinance mortgage process, ensuring a smooth and stress-free experience.
We provide answers to your questions, and solutions to the financial challenges you may be facing – is it worth it for you to pay a fee to break your mortgage? Will a new mortgage make up the difference and more? My Lender says I’m not eligible for a new lower rate, is that true?
We’ll paint the whole picture when it comes to your refinance.
What is Mortgage Refinancing?
Are you considering a refinance mortgage in Burlington or anywhere in the GTA?
Mortgage refinancing put simply is ending your current mortgage and starting a new one. It can happen either during or at the end of your mortgage term. Refinancing your mortgage allows you to access the equity in your home and possibly, get you a better rate.
Perhaps you are considering a mortgage refinance for the first time and have no idea what it means or where to start – we will guide you through the entire process and be with you every step of the way. Our mortgage refinancing services in Burlington are designed to make the process seamless and stress-free.
The Advantages of Mortgage Refinancing
Refinancing your mortgage offers you the cheapest source of real money at your fingertips, that can be used for a range of different things, including:
- Home Renovations: Whether you want to remodel the kitchen, add a bathroom, or finally create that extra bedroom, accessing your home’s equity can help make it happen.
- Debt Consolidation: Refinancing allows you to merge several high-interest debts into one manageable payment at a lower rate.
- Investments: Sometimes, the time to invest is right now and mortgage refinancing can provide you with the capital to get started.
- Tuition: Help further your own education, or pay the tuition for a child or a grandchild to give them a great head start.
Overall, refinancing your mortgage on any property – home or business can help you save money and pursue opportunities. With the right professional help, you can ensure that you get the best rates and your refinance process is seamless and stress free. Contact the experts at Mission 35 Mortgages Burloak today to get started.
Frequently Asked Questions
A mortgage renewal happens when your mortgage has reached the end of its term. You now have the option to either renew your mortgage for another term with your existing lender or you can shop around to many different lenders. Typically, at cost to you.
A mortgage refinance can happen either during or at the end of your mortgage term. If you have time remaining in your current mortgage term you will be subject to a penalty to break this mortgage and get another one. If you are at the end of your term and are looking to take some of the equity out of your property or extend your amortization this would be considered a refinance.
There is no cost if you have a great credit score and your income qualifies you for your mortgage. We will shop your mortgage around to all the Top A lenders and get you the best fixed or variable rate mortgage.
If your credit or income is stopping you from getting an approval with one of these top tier lenders, we have options. Within these options there are many different lenders that will qualify you, however, they may charge a fee. Some of these lenders will pay mortgage brokers to bring you their mortgage and some will not. This could cost you a fee of approx. 1-2%.
A variable rate mortgage is one where the mortgage rate fluctuates with the market interest rate, which is also referred to as the prime rate. This means that when the prime rate goes down, more of your monthly payments will go towards paying off your principal. If rates however go up, more of your monthly payments will go towards interest costs. Although monthly repayments remain the same, a variable rate can help you save costs on interest paid over the life of your mortgage.
Private financing is the ability to borrow money with very little supporting documentation required. If you have equity in your home, you will be able to find a private lender who will be willing to lend you some money if required. The key is to have a strategic plan to ensure you can pay this money back by the end of term.