Refinance Home Mortgage Tips


For good or bad credit clients and refinancing home mortgage to end credit card debt


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Banks and "A" Lenders pay us for your residential service. EXCEPT bad credit mortgages, some self employed mortgages from "B Lenders", private mortgages or multi-use and commercial loans - broker fees are payable by clients. Lenders change their products and interest rates without notice.

..... follow me to get mortgage updates ... Marie Copeland @AxcessMortgage

Refinance home mortgage tips to pay off your home faster

Refinance home mortgage tips will help you save money and pay off your home loan faster. You work hard to provide a roof over your family's head and money saved is better in your own pocket instead of the lenders.

In Ontario, you can refinance up to 80% of home value to use the money for any reason -- the list is endless. 


There are advantages to refinancing home mortgage -- refinancing tips:

  • When interest rates are lower than your existing mortgage, you can save money in the long run by breaking your residential mortgage -- even if you have to pay a penalty,
  • You may want to lower your monthly payments by increasing your amortization and can do this by refinancing your home mortgage.
  • You have too much high interest credit and want to refinance and consolidate debt and improve your cash flow,
  • You want to get money to buy a rental property,
  • Need to bring your taxes up to date ... and more.
Refinance home mortgage tips to help you pay off your loan faster and save money.

Here are few basic refinancing home mortgage tips:

  • How about making your payments bi-weekly instead of monthly? If your regular monthly payment is $1,000, over 12 months you will pay $12,000 onto your mortgage. If instead you pay $500 every second week, that's $500 x 26 bi-weekly accelerated payments = $13,000 that you will pay into your mortgage during the same year. Weekly payments don't make much difference in savings - it's the same effect as if you were paying your mortgage monthly.
  • Some mortgages offer a 20% pre-payment privileges. Most borrowers can't make such large annual lump pre-payments into their mortgage, unless they win a lottery -- but, there could be opportunities to pre-pay your loan. You may be getting an income tax return, a bonus from your employer, gift of money from your parents ... and more. Unless you have an emergency, not spending all the money you didn't have in the first place, won't make a big difference to your way of life. But, it will make a difference how fast you'll pay off your mortgage and how much you will save on the interest over the term of the loan. The savings can be significant.
  • Did you ever think about rounding off your mortgage payments? For example, if your bi-weekly accelerated mortgage payment is $665 --- make it $700. You will be surprised how much difference this $35 will make in the interest you will pay.
  • If you have a variable mortgage and the interest rate falls, keep the same payment. If the interest rates rise, increase your payment to make up for the change. If you were to keep the payments the same and the interest rate increases, you will pay less principal and more interest.
  • How about increasing your bi-weekly mortgage payments to the amount you can handle. Even making a $25 increase in your bi-weekly accelerated payments will make a big difference how much more principal you'll pay down. You'll be surprised!


How does debt consolidation work ?

Even if you have bad credit and the banks turned you down for a mortgage, we have private lenders that say YES. If high interest credit is eating away at your cash flow, take a look at the debt consolidation links below, or better yet contact me personally -- I love helping good people save money and get back on track financially. 

One conversation with me and you will benefit from money saving home refinancing tips - I promise. 

Marie Copeland FSU, Hamilton Mortgages, Mortgage Brokers Hamilton Ontario


TOP STORIES


Eliminate credit card debts and improve your monthly cash flow by half or more.

Top debt consolidation loans from good credit borrowers to self employed loans no proof of income to applicants needing bad credit debt help.

Debt consolidation help even if your have bad credit - we have lenders that say YES

Refinance mortgage with bad credit and late payments using private mortgage lenders.


Call 905.308.8063 for refinancing home mortgage help

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