We are a few weeks into a new year – when resolutions are either running strong, or beginning to dwindle. Have you committed to a new financial resolution in 2022? Maybe it’s to save more or invest in Real Estate? Are you contemplating sprucing up your living space? Maybe the floors, bathroom, or kitchen? Are you hoping to help a family member financially, or reduce your overall monthly costs in general?
With access to additional equity and today’s lower rates, now may be the best time for you to look at refinancing your mortgage. This will provide you with greater financial flexibility to do whatever it is you need, or want, to do this year.
Let’s have a look at some of the reasons some of our clients have considered refinancing:
Consolidation and/or re-amortization
By consolidating high interest balances and/or increasing the amortization of their mortgage, our clients have saved hundreds, or even thousands, of dollars a month in cashflow. Doing this can allow you the freedom to save or reallocate your funds to other areas of need. Improved cashflow can help compensate for a reduction in income due to parental leave or change in career, with saving for vacations, or helping kids with their school expenses. Sometimes, by consolidating higher interest balances, our clients are able to pay down their mortgage faster due to a reduction in overall interest cost.
Renovation
Some clients have chosen to refresh their current living space by creating a new work space for themselves or their kids. They’ve improved the usability of their home by adding closet space, finishing the basement, or renovating an outdoor space. All these improvements can dramatically improve the quality of living within your home.
Becoming an investor or invest further
Some have used the equity in their home to grow their investment portfolio, to purchase a secondary property for their kids, a cottage for themselves, or a rental property.
Whatever YOUR scenario, FUSE Mortgage can assess the math and help customize a unique plan that suits your needs, ensuring that 2022 provides you with great opportunities and possibilities.
Please contact us today to arrange your complimentary consultation at a time that works for you.
**Resource Global News