Take advantage of your home equity today with mortgage refinancing

If you’ve owned your home for a few years, chances are you’ve been building up some nice equity. And with mortgage rates hovering around historic lows, this is a great time to look at rolling high interest personal debt or the funds for that home renovation you have been dreaming of, into your mortgage. In fact, you might find enough interest savings in your new mortgage to help knock down the overall cost.

At Team RRP we have helped many of our clients access their home equity through a refinance.  Due to a combination of your home appreciating in value and your regular payments of principal towards your mortgage, you may have home equity that you could be putting to better use.

Lenders allow homeowners to refinance their homes up to 80% of their market value. This can be achieved through breaking the terms of your existing mortgage to not only add additional funds, but potentially improve your rate of interest.

Try out our handy Refinancing Calculator!

“Thank you very much! You made what seemed impossible a reality!”

S & A

Debt consolidation in action.

Look at this example from a recent client (mortgage, car loan and credit cards totaled $225,000; we rolled that debt into a new $233,000 mortgage, which included a fee to break the existing mortgage):

Monthly Payments
Total Debt Current New
Mortgage $175,000 $ 969 $1,163
Car Loan $ 25,000 $ 495 $ 0
All Credit Cards $ 25,000 $ 655 $ 0
Total $2,119 $1,163

+4.5% current mortgage, 3.5% new mortgage. Credit cards 19.5% and car loan 7%, both 5 yr am. Subject to change. OAC. For illustration purposes only.

That’s $956 LESS each month!

Make this the start of a new financial life.

We’d love to help you crunch some numbers to see what kind of life you could be living! Talk to us about scheduling a free, no-obligation review of your situation. We guarantee you’ll be glad you did.

Speak to a member of Team RRP about refinancing your mortgage