Types of Mortgage Refinancing Options in Durham Region & Toronto
Lower Interest Rates
Refinancing your mortgage allows you to secure a new loan with lower interest rates, potentially reducing your monthly payments and saving money over the life of the loan. Canadian Tailored Mortgage Solutions can help you navigate the competitive mortgage market in Durham Region & Toronto and find the best refinancing options for your financial goals.
Cash-Out Refinance
With a cash-out refinance, you can access a portion of your home's equity as cash, which can be used for home improvements, debt consolidation, or other financial needs. Our experienced mortgage agent in Durham Region & Toronto, will guide you through the process and help you leverage the equity in your home effectively.
Extended Repayment Term
By extending the repayment term through refinancing, you can spread out the payments over a longer period, resulting in lower monthly installments. This can be beneficial if you're looking to improve your monthly cash flow or reduce financial strain. Canadian Tailored Mortgage Solutions offers refinancing options that suit your long-term financial objectives.
Switching Loan Types
If you currently have an adjustable-rate mortgage, refinancing gives you the option to switch to a fixed-rate mortgage for more stability and predictability. Our mortgage broker in Durham Region & Toronto, will analyze your financial situation and help you determine if switching loan types is the right move for you.
Consolidate Debt and Simplify Your Finances
Mortgage refinancing offers several benefits, and one of the most significant advantages is debt consolidation. By refinancing your mortgage and taking advantage of your home's equity, you can consolidate high-interest debts, such as credit cards and personal loans, into one manageable payment with a lower interest rate. This not only simplifies your finances but can also save you money on interest payments, allowing you to pay off your debt more efficiently. Canadian Tailored Mortgage Solutions specializes in debt consolidation refinancing options for homeowners in Durham Region & Toronto.