Refinancing Your Mortgage with Canadalend 

If you live in the Greater Toronto Area (GTA) and are experiencing problems with debt, then the Canadalend refinancing process may be the best option for you. Mortgage refinancing is the process of replacing the mortgage on your property with a new mortgage, generally with different terms than the original. This process provides you with new money, which will be used to pay off the original mortgage.

If you are considering refinancing, it is very important to make a well-informed decision and work with a trusted name. Canadalend hosts a trusted team of mortgage professionals who are equipped to provide you with the assistance and knowledge you need to guide you along the Canadalend refinancing process. 

Why should you consider refinancing your mortgage? 

There are many reasons to consider refinancing your home; the reason you choose to refinance your mortgage will be based on your current situation: 

• If the current home loan you have carries a very high rate of interest, refinancing can introduce new terms and interest rates to your mortgage. Even though the differences in the mortgage rates between your mortgage and the refinance rate may appear small, even a tiny percentage can help save you thousands of dollars in the long-term
• Refinancing may also be the wise choice if your current home loan is crippling your monthly budget and making it increasingly difficult to meet other expenses. Refinancing may be wiser than increasing your credit card bills or opting for other forms of loans, which usually carry much higher interest rates

What are the steps in the refinancing process? 

• Start by discussing your current financial situation with a mortgage professional. Canadalend always has one available, so feel free to drop us a line today
• Consider all of the factors behind refinancing: your credit rating, income, debts, employment, current mortgage terms, and other mortgage-related factors
• Collect and present any documents required, such as: proof of income and proof of employment
• The Canadalend refinancing process, in particular, works with all major banks and mortgaging institutions, as well as private funds. Your mortgage specialist will use their contacts to compile a list of potential options for your individual refinancing needs
• Your mortgage specialist will work with you not only to compile your options, but to help you choose which option is best for you in the refinancing process

The decision to break a current mortgage requires both time and thought. Regardless of the benefits of lower rates, there are penalties associated with refinancing that can get costly. That does not mean that refinancing is not worth looking into; Get in touch with a specialist at Canadalend who will work with you to create a solution that benefits you today.