Whether you want to refinance your existing mortgage or make use of your Home Equity for any purpose that you desire, the decision to refinance requires proper planning and consideration of several factors. Home equity loan often called a HELOC or home equity line of credit is a credit facility registered against your home that will allow you to revolve the balance. In other words the amount paid down can be re-advanced to the approved limit. You do not need to draw the approved limit amount down at once. Most lenders will allow home equity line of credit registed up to 75% of the value of your home depending on credit and income. Payments can be fixed or interest only.
A well qualified mortgage professional can be of great help to secure the best mortgage rate for you when you plan on refinancing or securing a home equity line of credit. With several years of experience in the industry, at Dominion Lending Centres Island Mortgage we can assist you in getting the maximum out of your decision to refinance. From consolidating several debts into one, to lowering monthly payments and getting ready cash-in-hand, or use the extra cash to pay on a lower interest rate mortgage, allowing you to reach financial freedom sooner. Refinancing was never this easy! Call or email Island Mortgage today ! 250-475-9810 firstname.lastname@example.org