There comes a time in almost everyone’s lives where their financial situation will change. Whether that is because they have had a number of unexpected bills or payments to take care of, or because they are ready to expand their family or their assets.
If you have come to a point like this in your life, you have options! Using the equity you have built up in your home by refinancing your mortgage is a great option for if you are looking to save on your monthly payments so you can spend more of your income on other expenses. This option is also a great option if you want to increase the size of your loan so you can access the additional funds to pay for renovations or another big purchase.
Another great reason to access your equity is for investment purposes. You can potentially increase your net worth by having your equity earn your money. You may wish to purchase an investment property, RRSP’s other types of investments. Many people also use their equity to realize a dream of starting a business.
So, if you want to change your financial picture, refinancing your mortgage may be the perfect solution! Give me a call today to find out more about your financing options