refinancing your property
Mortgage Refinancing Services in Vaughan
Use your home equity to make a difference.
Now is the perfect time to use your equity. Your home might qualify for up to 95% of its value instead of 80%. This is one of your most significant assets.
Take advantage of low interest rates.
Saving money is essential, and one effective way to achieve this is by finding a lower interest rate for your mortgage. Refinancing your mortgage in Vaughan with PASH and the assistance of our experts is a wise choice. For those with adjustable-rate mortgages, refinancing has a three-month interest penalty. If you hold a fixed-rate mortgage, you may face a penalty that exceeds three months’ worth of interest or be charged based on the interest rate differential (IRD).
To get equity from your home
Refinancing your mortgage in Vaughan is an effective way to increase the value of your home by up to 80% by paying off any outstanding mortgage balances. This additional capital can be used for home improvements and renovations, ultimately enabling you to sell your property for a higher price. There are various opportunities to increase your home’s value and access equity, such as renegotiating your mortgage, opening a home equity line of credit, or refinancing with your current lender.
To consolidate debt
One of the benefits of refinancing your mortgage in Vaughan is that you can use it to pay off high-interest debt, provided you have sufficient equity in your home. If you have several outstanding debts, such as a car loan, line of credit, or credit card bills, you can consolidate them through one of the refinancing options offered by PASH Mortgages.
Terminate your mortgage contract before it is due to expire.
If you’re seeking a refinancing mortgage in Vaughan, you’ve come to the right place! This option can help you secure a lower interest rate while leveraging the equity in your home. Additionally, you can close your current mortgage early and initiate a new one with any lender of your choice. PASH Mortgages Services Inc. offers up to 95% loan-to-value (LTV), making the refinancing process a seamless experience in Vaughan.
Get a home equity line of credit.
A home equity loan or line of credit allows you to borrow money based on the value of your property. You are required to pay interest on the outstanding debt each month. You can access a home equity line of credit through your current lender or by exploring options from other lenders. It can also help you refinance your mortgage in Vaughan by extending your credit line.
Mix and extend your existing mortgage.
The advantage of a “blended rate” is that your current mortgage lender allows you to combine your existing mortgage rate with a new loan amount by refinancing your mortgage in Vaughan. This can be beneficial if you borrow at your current interest rate. However, being cautious is essential, as blended rates often exceed the competitive mortgage rates available. Therefore, always compare these rates with potential savings if your mortgage is cancelled. PASH Mortgage offers various options for refinancing your mortgage in Vaughan.
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Why you should use the services of PASH Mortgages
We offer a variety of reliable mortgage solutions for refinancing in Vaughan. We will present tailored options based on your mortgage needs.
- Quick mortgage processing and closing
- Best lender discounts and promotional deals for better interest rates,
- The Ability to Meet with Qualified Mortgage Advisors,
- Privacy Brokers and/or Agents in the Industry,
We have a dedicated staff ready to assist you with your clientele. Our team comprises experts eager to share their knowledge and guide you through every step of refinancing a mortgage in Vaughan. We offer personalized guidance and support from seasoned professionals who understand the intricacies of the mortgage industry for homes, businesses, and various establishments.
Refinancing your mortgage in Vaughan is straightforward, especially with campaigns that effectively generate leads. Increased online visibility facilitates promotional efforts. You can also benefit from favourable conditions when applying for premium loans and salaries. Additionally, professional meeting rooms are available during client meetings or collaborative projects.
Frequently Asked Questions
Refinancing your mortgage in Canada involves accessing the equity you have built up in your home. This additional cash can be used for various purposes, such as home improvements, purchasing a new car, paying for education expenses, or even starting a small business. Through a refinancing process, many use their accumulated equity to pay off lower-interest debts, like credit card balances.
Consolidating high-interest debt with a low-interest loan from your mortgage lender is a sensible way to tap into your house’s equity.
You should avoid mortgage refinancing if any of the following conditions apply.
- Your home’s worth has gone down.
- To lower your monthly payments and make refinancing possible, you’ll need to extend the term of your mortgage and increase the amortization period. However, this will result in higher overall interest expenses.
- You are experiencing difficulty making mortgage payments due to a change in your financial situation, such as job loss or credit issues.
- Interest rates have increased. If you decide to refinance, you may end up with a higher rate than before, which you might not be able to afford.