Direct: 780.278.3682
Fax: 877.614.2499
Toll Free: 877.614.2489

MacPherson Mortgages

The Mortgage Group + Mortgage Brokers Edmonton

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Refinancing Your Property

Refinancing may be something to consider if one or more of the below points pertain to you and your current situation:

  •  Obtain a lower fixed rate
    The interest on a fixed rate mortgage that you took several years ago may have dropped drastically. Refinancing the existing mortgage will entitle you to avail of the reduced interest rate.
     
  • Convert an Adjustable Rate Mortgage into a Fixed Rate Mortgage
    The interest rates on an adjustable rate mortgage (ARM) might be low initially, but the fluctuations are unpredictable. Many find these constant variations in the interest rate taxing and prefer to refinance the mortgage into a secure, fixed rate one. 
     
  • Consolidating multiple mortgages into one
    Paying the installments of two or more mortgages at the same time can be quite a burden for most individuals. The best solution in this case is to consolidate the multiple mortgages into one, with a fixed monthly interest rate and a longer repayment duration. 
     
  • Pay off other debts
    The proceeds from your refinanced mortgage can be used to pay off credit card bills and other similar expenses. Since mortgage interest is 100% tax deductible, you end up saving a considerable amount.
     
  • Make cash provisions for emergency situations
    You can refinance your existing mortgage to free a larger amount of cash, depending on your home equity. Since a mortgage is a secured loan, the interest applied is considerably lower than that of an unsecured loan.

The decision to refinance should be carefully evaluated to avoid any complications at a later stage. By carefully studying the status of your current mortgage and comparing it to your income and other debts, we help you pick the refinance solution that best suits your current financial status.

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Feel free to contact me for further assistance.

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  • Rates
  • Application
  • Mortgage Glossary

About Us

Licensed through the Real Estate Council of Alberta (RECA) I am also a member of The Canadian Association of Accredited Mortgage Professionals (CAAMP) and The Alberta Mortgage Brokers Association (AMBA).

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Contact

MacPherson Mortgages
Address: Edmonton, AB
Phone : (780) 278-3682
Fax : (877) 614-2499
Toll Free : 1-877-614-2489

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