At Team Jardine, we specialize in Remortgage Moncton. Remortgaging your mortgage allows you the freedom to pay off your current mortgage and replace it with a new one. This can help you borrow more money by taking advantage of the equity in your property to reach a variety of goals such as home renovation, build an investment portfolio, education or the purchase of an additional property.
A Remortgage Moncton can give homeowners many benefits. Remortgaging your mortgage may lessen the interest rate on your mortgage, extend or shorten the length of your mortgage, or lower your monthly payments. However, remortgaging should come with caution as it does not necessarily provide homeowners with the benefits wanted in every case.
There are many things to take into account when considering a Remortgage Moncton, such as: Do I have enough equity in my home? Will I qualify for a better rate? How will this move affect my existing agreement? How will this affect my finances in the future? You can always get a home equity line of credit or a home equity loan.
All these questions should be addressed with your Mortgage Broker.
Reasons why you should Remortgage Moncton:
- Mortgage interest rates are currently less than your existing mortgage rate
- Your credit history has improved and you might get better mortgage features and benefits
- You would like to lessen your monthly costs by including other debts you may have
- You would like to renovate your home
- Debt Consolidation
There are tons of reasons to remortgage your home and they depend on your own personal situation.
Calculate the Value of Your Property
Over the years, you’ve been building equity in your home by paying down the balance on your mortgage. If you are thinking about one of our remortgaging solutions, the amount of equity in your home will be the factor to determine the amount of money you can borrow.
Your home equity will fluctuate based on the current market value of your home. That’s why it’s important to get an up-to-date property valuation. There are various methods you can use to determine the estimated current value of your home.
Determining the Equity in Your Home
Once you have an estimated value of your home, you will be able to calculate your home equity.
Your home equity is the difference between the market value of your home and the total amount of debts registered against it including any mortgages.
Our Mortgage brokers love to answer any questions you might have regarding your mortgage or remortgaging your home. You can reach out to us by phone at 1(866)957-2263 or you can fill out the email form on our contact us page and we will promptly get back to you! We look forward to hearing from you!
