Reduce cost in refinancing your mortgage
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Reduce Cost In Refinancing Your Mortgage PowerPoint PPT Presentation


To refinance your mortgage is to increase your existing mortgage to get cash against the equity of your house for consolidating your debts, start a business or for whatever purpose.

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Reduce Cost In Refinancing Your Mortgage

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Reduce cost in refinancing your mortgage

REDUCE COST IN REFINANCING YOUR MORTGAGE


Reduce cost in refinancing your mortgage

Basically, to refinance your mortgage is to increase your existing mortgage to get cash against the equity of your house for consolidating your debts, start a business or for whatever purpose.


Costs associated to mortgage refinancing

Costs Associated to Mortgage Refinancing

  • Legal Fees and Disbursements

  • Broker’s Fee

  • Lender’s Fee or Bonus

  • Mortgage Penalty

  • Appraisal Fee Second Level


Why you need mortgage broker

Why You Need Mortgage Broker

If your credit rating is not good or your income is not satisfactory or both you could not meet the standard credit requirements by a bank. 

You need a mortgage broker to look for secondary lenders. 


Understand mortgage broker rates

Understand Mortgage Broker Rates

A mortgage broker charge you a broker’s fee for he/she does not get finder’s fee for her/his services from a lender on a borrower whose credit rating or income does not meet bank’s standard credit requirements. 

Broker’s fee also amount in the thousands of dollars depending on the difficulty of finding a lender who is willing to approve your mortgage application.


How to avoid the cost of m ortgage i nterest penalty and how to protect yourself

How to Avoid the Cost of Mortgage Interest Penalty And How To Protect Yourself?


When to consider second mortgage

When to Consider Second Mortgage

If you really need to refinance, you may consider a second mortgage rather than paying off your existing first mortgage where you are required to pay substantial interest penalty.

Better still to avoid regrets and surprises, it is prudent to know in advance the cost of refinancing before making a decision to refinance. Otherwise, you may end up the cost of refinancing is more than the net amount you receive from it.


Contact us today

CONTACT US TODAY!

Looking for Mortgage Consultation Services?

For free Professional and confidential initial consultation.

[email protected]

Phone: (905) 306-7572

http://www.debtcliniccanada.ca


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