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Refinance

Refinancing Your Mortgage

Did you know that you can refinance up to 80% of your home’s value?

 

With the significant appreciation of housing prices in the past few years, many of our clients decide to unlock the value of their homes by refinancing their mortgage for a variety of purposes, including:

 

  • Asset enhancement
  • Debt consolidation, such as credit card, car loan and/or line of credit
  • Combining first and second mortgages
  • Renovations

 

Ask yourself:

 

  • Are you tired of making multiple (four or five) different payments each month?
  • Do you find yourself making minimum payments each month?
  • Are other creditors charging interest rates that are higher than today’s current mortgage rates?
  • Do you wish you had more money to purchase stocks, bonds or make other investments?

 

If you answered yes, we can help you refinance your mortgage in Canada. We can answer your questions, help determine your needs and take you through the process quickly and efficiently—with the lowest refinance rates around.

 

Your mortgage refinance—our lower rates.

 

Dominion Lending Centre’s, agents deal with the lenders and the details for you, and pass along a volume discount to get you the lowest refinance rate possible, even from your own bank. Call or apply online today.

 

Requirements for refinancing include:

 

1. Acceptable Loan Purpose

 

  • Refinance purposes including: asset enhancement, debt consolidation, combining first and second mortgages, renovations, and investment purchases
  • Available for extended amortization up to 30 years

 

2. Eligible Properties

 

  • Owner occupied:
    • Maximum four units with at least one unit occupied as the principal residence
    • Existing properties (not for new construction)
  • Secondary homes or investment properties:
    • Maximum two units
    • Existing properties (not for new construction)

 

3. Loan-to-Value Ratio Limits

 

  • ‘Loan-to-value’ (LTV) is the relationship between the principal balance of a mortgage and the property value. For example, if you have a house valued at $100,000 with an $85,000 loan, you have an 85% LTV ($85,000 divided by $100,000 = 85%). For this program, the maximum LTV ration is 80.00%.

 

4. Amortization Options

 

  • Available for extended amortizations up to 30 years (i.e. currently uninsured conventional mortgages).

 

Contact me today for more information!

 

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