Refinancing A Mortgage

Refinancing In Esquimalt

It's fairly common for life to float into ways we didn't predict - refinancing your Esquimalt mortgage can help you adjust accordingly to keep up with changes in interest rates and your personal life.

Refinancing your mortgage can be costly, but with proper planning it may save you money.

Each borrower's situation is unique from the next which is why connecting with a licensed Esquimalt mortgage broker (that's me!) is a fantastic way to explore refinancing, along with other ethical mortgage solutions.

Let's dive into the good stuff - what does it mean to refinance your Esquimalt mortgage?!

The 411 of Refinancing A Mortgage In Esquimalt

Refinancing a mortgage can sound like an intimidating process, but it doesn't need to be!

When a mortgage is refinanced, there is a change in how the principal balance of the mortgage is being paid down - with refinancing, the title to the property stays the same.

I've helped many valued clients transition to better financial situations by refinancing their mortgage. Some clients refinance their mortgage to jump on an opportunity, and some refinance to get them out of unfavourable financial situations.

Common reasons you may be interested in refinancing your mortgage in Esquimalt are:

• Significantly better interest rates have become available and you'd like to take advantage of them
• You carry many high interest debts and would benefit from consolidating them onto one line of credit
• You'd like more funds available to use towards a significant renovation or home repair
• Variable rates have increased significantly and you're finding it challenging to make your Esquimalt mortgage payments
• You've encountered either a job loss or promotion which has shifted your monthly income

While refinancing your Esquimalt mortgage could provide you with incredible opportunities to align your mortgage closer to your borrowing goals, there are considerations to be aware about.

Aspects To Consider Regarding Refinacing Your Mortgage In Esquimalt

There are pros and cons to every mortgage - refinancing your mortgage in Esquimalt is a big undertaking and requires a lot of consideration.

It's highly recommended that before refinancing your Esquimalt mortgage, you discuss your options with a licensed Esquimalt mortgage broker (such as myself!) to paint a clearer picture for whether refinancing is best pathway to take.

I'd be happy to guide you through refinancing costs and benefits so that you can make a well-informed choice, and feel extremely happy about your decision.

Financial Considerations Regarding Refinancing Are:

• Property appraisal/survey costs
• Legal fees, broker fees, lender fees
• Penalties (such as pre-payment penalties) for 'breaking' your mortgage agreement before your renewal date
• If you switch to a new lender, there are sometimes additional costs involved for doing so
• Registration fees

Mortgages are like snowflakes - no two lending options are the same.

Each borrower requires a unique set of requests for their mortgage; it would be my pleasure to learn about your unique borrowing situation to secure an incredible mortgage tailored specifically to YOU.

Hot Tips For Making The Most Out Of Your Mortgage Refinance In Esquimalt

There are many factors which influence your refinancing rates and available mortgage programs; some factors are external (such as the policy rate, economy, inflation etc.), while some factors are within your control.

Personal Factors Which Can Help You With An Optimal Refinancing Solution In Esquimalt

 

MAINTAIN A GREAT OR EXCELLENT CREDIT SCORE

For more information on what impacts your credit score, take a peek at 'credit 101'

 

WORK WITH A LICENSED Esquimalt MORTGAGE BROKER

I'm an expert in the mortgage industry and have access to countless lenders, special rates, and creative mortgage programs

 

REFINANCE WHEN IT MAKES SENSE

Timing can be key, but it's also worth considering if it makes more sense to wait until your mortgage renewal in Esquimalt instead of refinancing early

 

MAKE SOUND DECISIONS REGARDING INTEREST RATES

Many borrowers see a better interest rate and want to jump ship - always factors in associated costs with refinancing and whether switching to a better interest rate could cost you more if it means taking away flexibilities such as pre-payment privileges

How To Go About Refinancing Your Esquimalt Mortgage

With my help, refinancing your mortgage in Esquimalt can be a straight forward process.

I've helped many deserving borrowers get into better financial positions through avenues such as debt consolidation and refinancing their mortgage.

If you'd like to discuss your mortgage options, connect with myself (your licensed Esquimalt mortgage broker)!

I value a caring, friendly approach to securing an appropriate mortgage solution; I don't believe in 'quick-fixes' - I'd love to see you on a positive mortgage journey and will do my best to get you there.

Refinancing Your Esquimalt Mortgage Through A Licensed Mortgage Broker

I'm a licensed mortgage broker, which means I have a fiduciary duty to put my clients best interests first.

If I don't believe a mortgage product or solution will benefit you, I won't recommend it. My services are offered with full transparency with no hidden fees or agendas.

I'm Kyle Benzies (licensed Esquimalt mortgage broker); giving me a call to explore what mortgage options comes at no-cost-to-you. If any costs or fees will be involved in the mortgage process, I'll be sure to tell you upfront before you're ever committed to paying a dime.

Connect with myself today to chat about whether refinancing your Esquimalt mortgage is a recommended mortgage solution!

***other conditions may apply to anything listed above. The information provided on this page should NOT be implicitly relied upon, and may not be 100% up to date. It's best to contact us for the most current conditions/program offerings for refinancing in Esquimalt***