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      Mortgage Renewal/ Refinancing

      Life is unpredictable! You save money for years to buy a house or to send your children to reputed universities. While saving money, you see ups and downs in your life on financial grounds. It hampers your credit score, and afterwards, you start worrying about mortgages. When you finally decide to invest your money for a better future, the banks generally look for your credit score. 

       

      If the score is good or above the criteria, you can get the needed mortgage after filling an application form and verifying the required documents. However, you face problems in getting a mortgage when your credit score is low. What can you do in such a situation? The answer is pretty straightforward! You need to contact Home Care Mortgage to get the required funds even when your credit score is low. The company’s finance experts always have customized solutions and mortgage options to fulfil your needs.  

       

      Besides the first mortgage, second mortgage, home equity, and other options, our company also render Mortgage Renewal and Refinancing services. Our company has made it easy for you to get mortgages at reasonable interest rates from reputed lenders in Canada. What are you waiting for? Contact the experts whenever you want to refinance or renew your existing mortgage. We assure your experience with us will be seamless and error-free. 

      What do we provide you with mortgage renewal and refinancing?

      Home Mortgage Care is long-standing in the Finance Industry for providing customized and best mortgage solutions in Canada. We also help you in getting refinance or renewal on your current mortgages. You can peruse the details listed below to comprehend what do we offer you:

      • Lowest cost of borrowing money
      • Yearly percentage rate
      • Savings of thousands of dollars
      • Competitive interest rates

      When can you procure our mortgage renewal and refinancing service?

      You may have taken home equity some time ago. However, you now need more money to fulfil your or your family’s needs. Where can you go and ask for mortgage expansion? Home Mortgage Care is your savior! We will help you refinance or renew your current mortgage at affordable interest rates with no hidden costs. You can take our mortgage renewal refinancing service for:

      • Renovation
      • Children education
      • Debt consolidation
      • Down payment or investment purposes

      Mortgage Renewal:

      When your current mortgage is at the full-recovery phase, you will get renewal options from the lenders. Mortgage renewal is a simple method of getting funds for future investments and financial uses. When you are offered renewal options, your lender and you will agree on the interest rate and term for your current mortgage’s remaining amount.  

      What to look for Mortgage Renewal?

      The decision of mortgage renewal seems easy; nonetheless, you need to consider looking over certain things like:

      • The frequency and amount of interest and principal payments.
      • The type of your current mortgage loan (variable VS fixed interest rate or Open VS closed)

      Are you interested in Mortgage Renewal?

      You can start looking for renewal if your current mortgage is maturing. Your existing mortgage loan must stand at the last term to get a renewal. In this manner, you can reset everything like the interest payment amount, term, interest payment frequency, and principal. 

      Mortgage renewal is a fresh start since you can change your overall financial position, make an adjustment and note any changes accordingly. A lot has already happened in your life as you had a mortgage to pay. Perhaps your family unit has grown, or your income has increased- many things would be changed since the time you had your current mortgage loan. Therefore, it is ideal to consider calling HOME CARE MORTGAGE to discuss the options, interest rate, principal, etc., for Mortgage Renewal. 

      Our finance experts will help you with a lower cost of borrowing, reduced monthly principal, full-term payment of your current mortgage, and minimized interest payment. 

      Mortgage Refinancing:

      Refinancing implies reconsidering your current mortgage agreement, typically to get the equity in the home. You can also get mortgage refinancing to take advantage of a lower interest rate for bringing down the borrowing cost. It can assist you to pay for expenses like renovations or education. You can take advantage of mortgage refinancing to consolidate your on-going debt. However, you agree to the new mortgage loan agreement when you select mortgage refinance.

       

      You can avoid prepayment charges if you take refinance service when your current mortgage is ending. Nonetheless, you can also take refinance service before your on-going mortgage term is not completed. In this case, the prepayment fee is comparatively small over the savings derived by procuring a new mortgage at the lower interest rate.

      Is Mortgage Refinance suitable for you?

      When you assess your objectives, you can choose whether a mortgage refinances bodes well. 

      • Debt Consolidation: Combine interest debts into a single payment with a smaller interest rate.
      • Home Renovation: Procure the needed fund to make repairs or renovate the home.
      • Educational cost: Cover costs of education for your children or other family members.
      • Investing: Grab the opportunity to invest. You will need to consult with your tax advisor before taking a mortgage refinance service.

      Renewal or Refinance- What option is the best?

      Options

      Renewal

      Refinance

      When can you get it?

      You can get it when your current mortgage is ending soon. The new term can last between 6 months to ten years.

      You can procure refinance service at any time of your current mortgage term. A fee is applied to the mortgage refinance.

      How it works?

      The renewal mortgage will have the same terms and a revised interest rate.

      You need to requalify to get a mortgage to refinance. The terms will be changed alongside the interest rate.

      Does it cost?

      No

      Yes

       

      Why choose Home Care Mortgage?

      Whether you want to renew or refinance your current mortgage, we have premium solutions for all your financial needs. Our company is associated with many lenders in Canada to provide you with a mortgage at competitive interest rates. We offer the right mortgage solutions because we care for your needs and time.

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          We are the mortgage specialists having rigorous knowledge of Canadian regulations with respect to different types of mortgage services.