Home Mortgage Refinancing in Ontario
Breathe a little easier.
When you refinance a mortgage, you’re effectively paying off your current loan(s) and replacing them with a special one tailored to your needs.
That’s where we come in. At Canadalend.com, we make it a priority to take care of our clients and get you the best product available.
We have a trusted team of mortgage professionals based in the GTA , to help you make an informed decision when refinancing your home.
Reasons to refinance with Canadalend.com
Take advantage of lower rates
Get a better term
Pay less per month
Manage your debt
5 star dedicated customer service
Fund your home renovations
Save thousands of dollars
And much more!
Whatever your needs, we've got you covered!
Defining the point.
Reduce your interest rate and save big
You may be able to lower your mortgage interest rate, reducing your monthly payments in the process. You tend to get better rates as you pay off more of your mortgage, asit’s usually cheaper to have a loan with a 25% deposit than a 10% for example. Factors including the Bank of Canada’s Policy Interest Rate influence the state of mortgage rates at any given time.
Free yourself of burden, and pay your loan off faster
if your priority isto pay off your loan asfast as possible, then reducing your term period can be good option for you.
Pay less per month and live a little easier
If you’re struggling to meet your monthly payments, you could always do the opposite and lengthen your mortgage term. This way you pay less per month and have a little more spending money to take care of what important to you!
Tap into your home equity and get a lump sum in cash
When refinancing you have the option of getting more up front. If you have a home improvement project in the works or want to fund your child’s education, this could be great option for you. Or take a look into getting a second mortgage, from our trusted agents.
Lock in a fixed or switch to a variable rate
Having certainty on cost over the next few years can help set your mind at ease. Or vice versa,sometimes you can benefit from a variable rate, if you the Bank of Canada’s Policy Interest Rate remain low. We will look at your unique situation and help work out the bestsolution for your needs.
We offer a range of solutions for all your mortgage refinancing needs in Ontario!
Our years of experience as a reliable mortgage refinance solutions provider have helped us become fine-tuned to all of our clients’ unique financial needs. When it comes to matters of home mortgages, we understand that your home is probably one of the most valuable assets you may own.
So, if you are interested in refinancing your current home mortgage loan, simply call Canadalend.com or click on apply online to get in touch with a mortgage refinance specialist. We will work with you to create a mortgage solution that benefits you, optimizes the use of your home equity and structures your mortgage in a smart and effective way!
Frequently asked questions
What rates can you offer for a no-cost refinance?
If you choose to refinance with Canadalend, you may be able to get a lower interest rate than you are paying now. Factors that can influence your mortgage rate include the Bank of Canada’s Policy Interest Rate as well as how much of a mortgage you will need to refinance.
What questions to ask during refinancing?
Some of the most important questions you should ask during refinancing are: 1) What interest rates do you charge? 2) What fees (such as commission or lender fees) do you charge? 3) Am I eligible for any mortgage discounts? 4) Can I get a loan estimate that will show me all the costs associated with refinancing?
What do underwriters look for in a refinance?
An underwriter will assess both your financial situation (such as your monthly income, bank statements, and credit history) as well as the equity in your home and then compare it to the amount of money you want to borrow. They will determine if you are a high or low risk borrower.
How long does the underwriting process take for a refinance?
The length of time the underwriting process takes now is less than it used to be as part of the process is now automated and done by a computer. You can help speed up the process by making sure you have all relevant documents available if or when an underwriter asks for them.
What are the dangers of refinancing?
Some of the dangers of refinancing can include taking longer to pay off your mortgage (if you extend your loan's term), and having to pay extra costs (even with a non-cost refinancing)
When should you consider refinancing?
You should consider refinancing for a variety of reasons, including 1) you want to reduce your interest rate 2) you want to pay off your debt faster 3) you want to lock in a fixed rate or switch to a variable one or 4)you want to tap into your home equity and get a lump sum of cash.