Sitting on equity you are not using? · North York
Put your equity to work, once the numbers actually support it.
A refinance can fund a renovation, an investment, or a restructured mortgage on better terms. It can also be the wrong move. I run the real numbers first and tell you plainly which one this is.
- 5.0 on Google, 74 reviews
- Mortgage Agent Level 2
- No cost, no obligation
It all started with a short introductory call to understand the evolving landscape of real estate in Canada along with what I would need to have in place to be able to secure a mortgage. In no time, I was provided several "A Lender" options and a pre-approval amount which I was very comfortable with. The entire process was painless and being prepared made it go smoothly, and in record time!
Refinancing with a plan
Refinancing is a tool, not a last resort
Used deliberately it does one of a few specific jobs. Used vaguely it just costs you.
-
1
Know which job it is doing
Funding a renovation, consolidating higher-interest balances, freeing a down payment for an investment property, or changing your term. Each has different math and a different answer.
-
2
Breaking mid-term has a cost
There is usually a prepayment penalty, and how your lender calculates it varies a lot. That number belongs in the decision from the start, not as a surprise at the end.
-
3
A HELOC and a refinance are not the same
One gives you a revolving limit you draw on, the other rewrites the mortgage itself. Which suits you depends on whether you need the money once or repeatedly.
Ontario-licensed · License# M1900073. Miriam compares options across a range of lenders through Mortgage Outlet Brokerage, at no cost to talk and no obligation to proceed. Serving North York, Toronto, Vaughan, Brampton and Innisfil.
Miriam Essebag, Mortgage Agent Level 2, License# M1900073. Brokerage: Mortgage Outlet Brokerage, Brokerage License # 12628. Rates and terms are not guaranteed and are confirmed directly with Miriam and the lender. Approval depends on your full application and the lender's own criteria. Nothing here is financial or legal advice.
Frequently asked questions
How much of my equity can I access?
Will I pay a penalty to refinance mid-term?
Is it better to wait for my renewal?
Request a callback
Leave your details and Miriam’s Mortgages gets back to you directly to set up a time that works for you.
- 5.0 on Google across 74 reviews
- Mortgage Agent Level 2, License# M1900073
- Mortgage Outlet Brokerage
- No cost to talk, no obligation
Prefer to talk? Call 647-274-9680.
Send your details
Thanks, you're all set. Miriam’s Mortgages gets back to you directly to set things up.
Prefer to talk now? Call 647-274-9680.