To refinance your mortgage, you will need to adhere to the terms and conditions outlined by your lender. The process may feel overwhelming to some. However, by taking the time to think things through, you should be able to complete the process without much effort. Refinancing your mortgage is essentially replacing your existing mortgage with…
Math isn’t for everyone but that’s why we have been blessed with digital and physical machines to help us crunch the complicated numbers. If you are looking to take out a mortgage sometime soon, know what you’ll be signing up for with our mortgage payment calculator. Understanding your mortgage payments is an important part of…
It doesn’t really get easier with the real estate market during this pandemic. Less homes on sale, lower prices, and this latest to name a few! But what makes it more complicated with refinancing? They are uninsurable, so the lending risk sits squarely with the lenders; whereas purchase transactions facilitate changes of ownership, and the…
To begin with, what does it all mean? Refinancing a mortgage means paying off an existing loan and replacing it with a new one. There are many reasons why homeowners refinance: 1) to obtain a lower interest rate 2) to shorten the term of their mortgage 3) to convert from a variable-rate mortgage to a fixed-rate mortgage…
Last week, we discussed the mortgage pre-approval and why it is important for first time homebuyers to go through this process and the long term benefits. Fast forward a few years into home ownership, and some families may find themselves in a situation where they’d like to tweak things a little bit, for whatever financial…
