Refinancing a property can be advantageous.

Monday February 12th, 2018

Refinancing a property can be advantageous.

Certain situations make it worthwhile to refinance your property: To maximize your RRSP in the framework of a plan drawn up by a financial planner; To finance a project at a lower cost (lower interest rates) such as;

  • Purchasing a motor vehicle
  • Renovating a home
  • Installing a swimming pool
  • Changing the windows
  • Installing a heat pump
  • Buying a boat
  • Buying a car
  • Undergoing an operation
  • Etc.

To obtain a bigger down payment on a summer cottage in order to avoid the CMHC insurance premium; To make the money available for a down payment on an investment property; To reduce the cost of credit card and line of credit debts and to have only one payment to make; To invest in one’s business; To provide your children with the money to make a down payment on their first home. Mortgage refinancing, used wisely, can help you save a lot of money! If you know someone who needs to refinance their house, send this article to them; it will surely provide them with some good insights!

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