Refinancing your home is a safe and secure way to obtain money for any need.
Whether to expand your asset portfolio, to arrange cash flow for your business, consolidate your debt, purchase a bigger car or to go on that long awaited vacation.
With the real-estate market going strong, most GTA properties have seen significant appreciation over the past 10 years. The equity that has accumulated ‘in” your house or office can be pulled out and serve you well for other investment and growth purposes.
The process of refinancing is similar to the process of borrowing for a mortgage, only this time the property is already in your possession. An appraisal is obtained and income and liabilities are reported. If the debt servicing ratios are acceptable you will be receiving a lump sum of money to have at your disposal or a line-of-credit (LOC) to use as you please. Loan terms will vary according to deal parameters such as property value, income assessment etc.