Take Advantage of Low Interest Rates – Refinance Your Mortgage Today!
With record low interest rates for mortgages, it’s no surprise that borrowers are happy and homeowners even more so because they can benefit quite a bit from such low rates.
It’s worth looking into refinancing your mortgage because you never know when you’ll see such low rates again. If you purchased your home a few years ago, there’s a very good chance you can benefit by refinancing your mortgage with the lower interest rates available today because even if you secure a rate that is half a percent lower than what you’re currently paying, it’s likely a better option to pursue because it will make more sense financially.
Of the many benefits this option provides, a lower monthly payment is just one. Lower interest rates will help you save every month and those monthly savings will add up over time, leaving you with a lot more money in either your pocket or savings account. This is definitely an appealing factor because everyone wants to save as much as they can, anywhere they can, and this is definitely possible through refinancing. The value of refinancing your mortgage will become even more apparent in the long run because you will be saving significantly in terms of interest payments and when you combine this with the additional savings you have every month, it will add up to thousands of dollars you can use towards other investments. This will provide you with a lot more financial freedom and will look great for your portfolio.
If you’ve been meaning to do home renovations but haven’t had the means to do so, then refinancing your mortgage and taking advantage of the low rates currently available will allow you to pay for such repairs. Many homes need upgrades but it’s not always easy to come up with the funds to pay for them, which is why this is a great option that would allow you to obtain the money by tapping into the equity of your home that has built up over the years. Home equity loans normally come with lower interest rates than other types of loans, so you can improve your home without worrying about high interest rates and overwhelming payments.
If you’re interested in taking advantage of low-interest rates but are not sure how to proceed, contact Collin Bruce to see if this option is right for you. Located in Edmonton, you will receive detailed information regarding a second mortgage as well as refinancing options, so contact Collin Bruce and together you can determine if this route is beneficial for you!