As interest rates are expected to continue rising, homeowners should be asking the question – “should I refinance my home loan now before rates go up even more?”
Refinancing is a step that could offer a range of benefits including an opportunity to secure a lower rate, with potential savings on monthly repayments and/or a reduction in your total interest costs. Refinancing your mortgage could also mean enjoying improved loan program that may help you to pay off the loan sooner.
There are other reasons that makes sense like tap into your home equity to achieve personal goals like the purchase of an investment property or a new car Refinancing your mortgage could also be used to streamline your personal finances through debt consolidation.
Most often, refinancing your mortgage is considered when household circumstances change over time. Whether it's a growing family, a new job, or maybe just a change of pace, your loan should always keep up with your life changes.
Refinancing is straightforward
Many are surprised at how straightforward refinancing can be. Especially with the help of our experienced team of officers who can streamline the whole process.
A good starting point to see how your current home loan is tracking to make sure you have a loan that's the most appropriate for you. Request free, no obligation mortgage loan review quick quote.