Refinance, what else!
Before we start talking about refinance – let’s talk about debts.
Canadians hate debts, Canadians have debts and Canadians love real estate!
Did you know that more than 70% Canadian own their properties?
And, very good news, especially for British Columbia and Ontario residences (Alberta, please, no comments J), that property value hit the roof in last few years. What does it mean for you and your smart refinance?
It means that you can consolidate your debts, improve the cash flow, and go to your next vacation faster than you think.
For example, if you purchase your place 5 years ago for $400K with 5% down, your current mortgage at the moment is around $350K. Your home worth at least $600K on the current market (welcome, British Columbians J)
Let’s assume that you have around $50K – $80K in consumer debts (car loan, student loans, credit cards and so on. Instead of having all those annoying and pretty expensive debt payments, you can have just one nice mortgage payment (which, potentially, can be lower than your current mortgage payment PLUS it includes all your other debts.
Just to repeat – you will have one mortgage payment. No consumer debts. And your mortgage payment will be the same or lower than your current mortgage payment!
And it’s not difficult at all.
Just simply refinance your mortgage; increase amortization to 30 years and enjoy the freedom of the debt free life!
I love to see my clients to pay their debts. It makes me feel better as I totally remember my own experience – feeling yourself debt-free makes our life much better!
Call, email, text. I am here to help.