Mortgage Refinancing
We are committed to offering innovative financial mortgage solutions that empower individuals to manage and restructure their existing debt effectively. Refinancing your existing mortgage can be a good idea to explore if you want to access your home equity, consider different mortgage terms, obtain a fixed rate mortgage, or utilize a cash-out refinance. You can save money and reach your financial objectives with our refinance solutions!
Increase Your Cash Flow
Pay Less on Interest
Remortgage
What is Refinancing?
Refinancing replaces your existing mortgage with a new loan, often to secure a lower interest rate, reduce monthly payments, or access home equity for other expenses. Refinancing is ideal if you’ve had changes in income or are planning for maternity leave, helping maintain financial stability.
If you have a second mortgage or want better terms, refinancing can help pay it off while saving money. Even if your lender has declined your request, we offer tailored refinance mortgage solutions to fit your needs.
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Refinancing
We Can Help You!
Looking for a financial reset? We specialize in mortgage refinancing and debt consolidation, helping you reduce monthly payments, secure a lower interest rate, and access your home equity. Refinancing your mortgage to consolidate debt is a smart financial strategy that helps manage debt effectively while improving cash flow.
Even if you have a low credit score or a challenging credit history, we offer trusted private mortgage solutions from reputable lenders. Our team provides personalized refinance mortgage options to help you regain control, reduce financial stress, and build a stronger financial future.
FAQ
Answers to Our Most Frequently Asked Questions
01
Why Would I Want to Refinance my Mortgage?
By lowering your monthly mortgage payment through refinancing, you can free up extra cash each month. This improves your cash flow, giving you more breathing room to manage other expenses and achieve your financial goals.
02
Is Refinancing a Good Option for me?
Refinancing can be smart if you have high-interest debt or tight finances.
It can lower your monthly payment, freeing up cash flow.
03
What is a Home Equity Line of Credit
- Refinance when you mortgage renews.
- Refinance in the middle of the term of my mortgage.
- Refinance my rental property to access equity to purchase other properties or improve cash flow.
Advantages of Refinancing
Lower Monthly Payments
By refinancing, you can lengthen the time your loan must be repaid, lowering your monthly payments and improving their manageability.
Debt Consolidation
Credit card debt and other high-interest debt can be effectively consolidated by refinancing into a single, lower-interest loan.
Lower Interest Rates
You can lower your monthly payments and save money over the course of your loan by refinancing in order to achieve a lower interest rate.
Access To Cash
If your house is worth more than it is currently worth, you might be able to refinance and get cash out to pay for renovations, debt relief, or other costs.
Reasons to Choose Skip the Bank’s Refinancing
- Competitive Rates: You can save money throughout the course of your loan by taking advantage of our competitive interest rates.
- Dedicated Support: From application to funding, our team of knowledgeable financial professionals is available to assist you at every stage of the procedure.
- No Hidden Fees: We are transparent about our fees, and we don’t charge any hidden fees or prepayment penalties.
At Skip the Bank, we are aware that refinancing may be a wise choice to help you reach your financial objectives. We can assist you whether you want to lower your monthly payments, consolidate debt, or have access to cash. Apply right away to start managing your funds!
Mortgage Refinance
Real Success Stories
Minh and Lee had a couple of tough years financially. Minh had lost her job during the pandemic and Lee was the only one working. They also had two children in post-secondary education. They had amassed about $100,000 in debts outside of their mortgage and were struggling. Although the balance on their mortgage was only $250,000 and their house value was significant, they were using payday loan companies to keep up with everything. Finally, Lee asked a friend who they could talk to for some help financially. Their bank had already declined them for a consolidation loan.
Minh and Lee’s friend had some great experience with The Mortgage Centre – skipthebank.ca and was able to confidently refer to them as a trusted mortgage brokerage house. The Mortgage Centre helped them consolidate their debts with their mortgage into a short-term mortgage which allowed them to repair their credit history. In a year they were back to normal and were glad that they were able to manage. The best part of the process was that even though English was their second language, The Mortgage Centre was able to do an efficient job and completed things quickly for Minh and Lee.
Mortgage Refinance Resources
November 20, 2023
How a Lower Rate Doesn’t Always Equal a Lower Mortgage Payment
When it comes to buying a new home or refinancing an existing mortgage, many people are eager...
August 16, 2022
Mortgage Rates Fluctuating But Don’t Panic – Uncertainty Brings Opportunity
I was listening to a New York Times podcast on how inflation can be a self-perpetuating prophecy....
June 15, 2022
Reasons Why Working with the Right Mortgage Broker is Important
Who’s taking care of your biggest asset’s value – your home? With grumblings in the Toronto and...
March 7, 2022
Top 3 Ways to Use Your Home’s Equity
If you currently own a house, you’ve likely built-up equity because your home has appreciated significantly in...
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