08/18/2021
Are you comfortable with your payments? ⠀
If you’ve been feeling financially strapped each month making your mortgage payments, this could be the time to reduce them to a more easily managed level. On the other hand, if you’re earning more, why not pay down your mortgage faster and save thousands of dollars in interest over time? ⠀
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Do you need cash flow for other things? ⠀
Your priorities may have shifted since you first bought your home, and your cash flow needs can shift too. You may be able to refinance your mortgage to pay for other things such as debt. ⠀
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Can you handle fluctuating rates? ⠀
Some homeowners are nervous about any hikes in interest rates, while others are comfortable to go with the flow. It’s best to base your decision on your personal situation. ⠀
Will you sell soon? ⠀
If you are likely to sell soon, consider a shorter-term mortgage or one that has flexible terms. ⠀
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Are you thinking about a major renovation? ⠀
You know that projects such as a new kitchen or an addition can make your home more valuable. But the cost of having the work done can tie up a lot of money. Before you renew, look at all your financing options, which may include getting an additional line of credit or keeping your monthly mortgage payments low, so you have money on hand to finance the renos. ⠀
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When do you want to be “mortgage-free”? ⠀
While increasing your monthly costs now, you’ll ultimately save on interest in the long term and can prepare for that fabulous, mortgage-free lifestyle. ⠀
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Could you use your home equity to fulfill other goals? ⠀
Refinancing a mortgage can be one way to free up cash you need for other things which could even include buying another property. Mortgage renewal time is an ideal occasion to review all your options. ⠀
Are you getting the best rates and terms? ⠀
We analyze mortgage markets daily to ensure you don’t miss any money-saving opportunities.⠀
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Call/Text/Dm/Email 📧 📱 ⠀
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416-420-8550 ⠀
[email protected] ⠀
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Visit my website in my bio to fill out a mortgage application so I can help you get a mortgage⠀
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Keep Growing My Friends! 🌱
