Renovation Refinance Mortgage
Renovation Refinance Mortgages
(...what you need to know)
Many times, the house of your dreams is the one you’re already living in. Maybe it just needs an updated kitchen, some money saving windows, or a new roof. Or maybe that old basement can be converted into an income suite. Record numbers of Canadians have taken advantage of these historic low mortgage rates and have tapped into their home equity in order to add value to their biggest asset.
There’s never been a better time to take your home to the next level. Consider refinancing to access the cash you need for the renovations and improvements you’ve been dreaming about. Give us a call today.
How It Works:
Step 1: Your Unique Situation
We take the time to understand your unique refinancing plans. Will your planned renovation add significant value to your home? Or will it add an income component? Or maybe you just want to cash out some equity for an investment or other personal plans. There are as many reasons as there are people. And there are great mortgage products to match those needs.
Step 2: Debt Service Calculation
We make it easy to understand what you can afford to borrow. You’ll provide us your income documents, whether you are salaried, self-employed, commissioned sales, or on a fixed income. Once we understand your income picture we will order an appraisal and start to look at rates and mortgage options.
Step 3: Get Your Funds Fast
Unlike a purchase with a critical closing date refinancing often happens on an arbitrary timeline. But to you the timing is just as critical. Whether you are planning to be in full renovation mode or traveling the world on a dream vacation, or somewhere in between, you’ll want your funds fast. We help you streamline the entire process and can often expedite the application upon request.