Sometimes it makes sense to redo your mortgage. Lower rates, better terms, better amortization, or to access equity in the house are good reasons to refinance your mortgage. HELOC is another option to access equity in your home.

Refinance is a great way to assist you in several situations. Usually it end with better mortgage options in your favour with better interest rates and mortgage terms.


SS Mortgage Broker with a refinance or a HELOC can help you:


  • Increase cash flow by increasing your amortization on an investment/rental property.
  • Access extra cash ip to 80% of the equity in your property for renovations or investments.
  • Increase your savings by taking advantage of lower rates
  • Plan to pay off your mortgage sooner by lowering your amortization with essentially the same mortgage payment amount.
  • Debt Consolidation for your high interest loans into 1 debt payment.
  • Combine first, second and third mortgage into one mortgage.
  • Upgrade the property to increase resale value

When completing a refinance, you will have to complete an appraisal to determine the current market value of your house. You might also have to pay for mortgage registration, legal fee, discharge fee and any penalties for paying out your existing mortgage early. Such charges can be included in the mortgage itself so that you don’t have to spend extra.


Therefore, it only makes sense to refinance if the money you are accessing or savings is more than the cost of your refinance. There are more factors to consider, and let SS Mortgage Broker help you make the right choice. You can start your refinance with a simple and easy form online and you will have a SS mortgage broker contact you shortly.