With our wealth of experience in the business, you can rest assured; our qualified, experienced, and friendly mortgage brokers will offer you professional advice on a range of mortgage refinancing options. We go the extra mile in explaining to our clients the different mortgage plans and identify interest rates that suit their financial needs. We also discuss with our clients how to build equity, shorten their mortgage term, and reduce their financial stress. Over the years, we have built a great relationship with many lenders to help benefit our clients. Get in touch with our team today to discuss your requirements. We service clients throughout Mississauga.
An ideal way to take control of your finances is to refinance your mortgage. It is an ideal strategy that allows you to consolidate debts, lower interest payments, and save money. In addition to saving money, refinancing also helps you build home equity and decrease the size of monthly payments. Mortgage Power Canada can explain how refinancing your mortgage can save you money. Our team of mortgage brokers will discuss mortgage terms that will allow you to not only save money but also make payments easier. Let us help you create some flexibility with your finances. You can ask our mortgage brokers about a refinancing solution that suits your financial needs. If you are looking to get rid of your debt quickly, give us a call today to schedule an initial consultation.
When you choose us, you can rest assured of a top-quality service at competitive prices. Don’t let mortgage refinancing stress you. Our team of experienced professionals will offer solutions and interest rates and find the ideal mortgage refinancing solution for you. Contact our team today to request a free quote or to apply for a mortgage refinance.
Your first choice for all your mortgage needs in the Mississauga area.
What type of mortgage refinances are there?
There are two types of refinancing your mortgage:
- Rate-and-term refinancing: Your mortgage rate will be the percentage you pay in interest on your loan. You can refinance this mortgage for a 15-year or 30-year term.
- Cash-out refinances: This option allows you to agree to a higher loan balance in exchange for money being taken out of your home equity.
How do I qualify for a mortgage refinance?
- You should have a minimum credit score of 620 to qualify for a mortgage refinance.
- Debt-to-Income ratio requirement will depend on your personal situation and the exact loan you’re applying for. However, you’ll generally need a DTI of 50% or less to qualify for a conventional loan.
- When it comes to mortgage refinancing, the individual must have at least 20% of equity in the property.
How long does it take to get your mortgage refinanced?
At Mortgage Power Canada, we pride ourselves on offering clients a quick turnaround on their mortgage refinance which is faster than the industry average.