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Windsor Mortgage Refinancing

For many homeowners, refinancing their mortgage is the best way to ease their financial problems. Ontario Mortgage Guy can guide you through the entire Windsor mortgage refinance process to ensure a fool-proof financial plan.

Windsor Mortgage Refinancing pexels andrea piacquadio 3760067 300x200If you are looking to refinance, mortgage brokers from Ontario Mortgage Guy can help you create a sound strategy. This will guarantee that you can maximize all the benefits available to you, avoiding any drawbacks that may come from uneducated decisions.

Whether you aim to have lower monthly mortgage payments, more flexible repayment options, or to have more money for your desired investment, Ontario Mortgage Guy will help you strategize and will represent you in all the necessary meetings and negotiations.

Our mortgage brokers are skilled at finding the best mortgage loans with the best rates and terms and the lowest possible penalty fees for you. So if you are looking for a straightforward online mortgage process with little to no inconvenience, start planning for your mortgage refinance with us today!

Call Ontario Mortgage Guy at (647) 371-5658 for your Free Consultation with a Mortgage Refinance Specialist!

Reasons to Refinance Your Mortgage

There can be many reasons why you should consider refinancing your mortgage. From making multiple monthly payments to paying extremely high credit interest rates, many circumstances can lead to your need for refinancing.

Windsor Mortgage Refinancing pexels pixabay 221540 300x225Ontario Mortgage Guy is composed of expert mortgage brokers who can educate you on how Windsor mortgage refinance works and guide you on every step you need to take. Whether you want a lower mortgage rate, access to your home equity, or consolidating your debts, refinancing your mortgage can be a smart financial move. However, it also bears risks.

A mortgage refinance is the process of breaking a current mortgage to start a new one with either a new or the same lender. The early breaking of your mortgage can bring large prepayment penalties, so you will need in-depth research to make sure you make the right decision.

If you see yourself having the reasons for a mortgage refinance listed below, talk to our mortgage brokers immediately to discuss all your options:

Debt consolidation

If your debts are piling up and making multiple debt payments with high-interest rates are both financially and mentally draining already, consolidating your debts through refinancing your mortgage can be the best solution. With mortgage refinance, you can pay all your debts with single monthly payments and a lower interest rate.

Combining two existing mortgages

Sometimes, life can get in the way, and you just find yourself already dealing with a second mortgage while having a property already refinanced. Our expert mortgage brokers can help you combine them into a new first mortgage, making your payments more manageable with a substantially reduced amount.

This option is available for those with a combined total of existing mortgages that do not exceed 90% of their property’s overall value. Also, penalties or taxes related to discharging an existing mortgage will be required if you choose to avail of this option.

Financing a home renovation

If you plan to renovate your property, mortgage refinancing can be a good way to lower your borrowing cost for the project. Our mortgage brokers will help find you lower borrowing rates than the traditional loans commonly offered to those who work without brokers.

Financing investments and investment properties

To reach a better financial status, you may choose to put your equity to work. If you’ve already built up equity in your own home, refinancing your mortgage can help you invest in property or venture into monetary investments.

Financing your children’s education

Educational expenses are not going any lower. For many homeowners, refinancing their mortgage can be a great way to pay for their children’s education. This can be for you if you want to benefit from manageable rates and payment plans, unlike traditional student loans.

Requirements for Mortgage Refinancing in Windsor

There are a few requirements for you to qualify for an Windsor, ON, mortgage refinance. Generally, a loan-to-value (LTV) ratio lower than 80% is required by mortgage lenders. You can calculate this by dividing your mortgage balance plus all other debts that your property has secured by its current value.

Windsor Mortgage Refinancing pexels gabby k 5849569 300x176Another factor that mortgage lenders will evaluate is your income. They will also look into your current debt or service debt ratio. Mortgage payments lower than 32% of your gross income are also required. Your overall debts should be less than 40% of your gross income as well.

Additionally, you will also be required to provide documents for verification purposes. These can be your pay stubs, bank statements, T4 slips, mortgage statements, notices of assessment, or property tax bills.

Best Windsor Mortgage Refinancing

Ontario Mortgage Guy understands that refinancing your mortgage will help you and your family a great deal. The money you will get can finance a lot of possible needs or desired investments. This need for financial aid is what drives our professional mortgage brokers to give you high-quality service.

Whatever your reason is for considering refinancing, Ontario Mortgage Guy can guide you through the whole process of applying for an Windsor mortgage refinance. As we work with many established lenders, we guarantee that we can find the best mortgage for your specific needs and circumstances.

We will represent you and negotiate with lenders on your behalf, making sure that you get the lowest possible rates and best mortgage terms. We also help you prepare all the necessary documents and assist you in providing the most hassle-free application process possible.

Fast Refinance Mortgage Approval

Windsor Mortgage Refinancing omglogo 300x131If you want to lower your mortgage rate or get equity out of your home to help pay down higher interest debts, chances are refinancing your mortgage will be the best way to solve your financial dilemma.

If you want to know all your options, ask more questions, or discuss your refinancing plans already, our expert mortgage brokers are always ready to talk.

Call Ontario Mortgage Guy at (647) 371-5658 for your Free Consultation with a Mortgage Refinance Specialist!

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