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Home Mortgage Refinancing

What can home mortgage refinancing do for you? For starters, it can save you money. Whether you refinance to get a better mortgage interest rate or to pay off high-interest debts, you can realize significant savings. Refinancing can also give you the funds you need for expenses like tuition and home improvements.

What Is Home Mortgage Refinancing?

Think about your mortgage in the context of your overall financial picture.

In this picture, you are paying one interest rate for your mortgage, but market interest rates are now lower. Add a few more elements to this picture to see the true value of home mortgage refinancing:

  • In addition to your mortgage, you might have a personal loan that is charged at a higher interest rate and credit card debts accruing at an even higher rate.
  • Your home needs some major repairs, or perhaps you are planning to renovate.
  • It is time for one of your children to head off to university or college.
  • A family member has become ill and income is getting tight.

This is where home mortgage refinancing enters the picture. Here’s just some idea of the difference it can make:

  • To save significant money in interest you could pay off your first mortgage, and then take out a new one at the current, lower interest rate.
  • A “cash-out mortgage” enables you to refinance for more than you currently owe on your mortgage. The difference is yours to do with as you wish. Consolidate your debts at a low mortgage interest rate. Pay for that renovation. Send the kids to school. Or gain some financial security during a family emergency.

Refinancing with CMI

We provide access to lenders that can offer home mortgage refinancing at 100% loan-to-value (LTV) on equity take-outs and refinances for those with qualifying credit. Top rates are available up to 95%. Most traditional lenders offer only 90% on refinances.

CMI also has a wide range of cash-out options:

  • Owner-occupied properties can be refinanced up to 95% at top rates.
  • Competitive programs are available for borrowing as much as 100%.
  • Investment or rental property refinancing of up to 90%.
  • Mortgage and HELOC combo mortgages.
  • For those with troubled credit, we offer affordable mortgage refinancing.
  • Pure-equity based private mortgages are available up to as much as 90%.
  • Refinancing at top rates for self-employed individuals with limited documentation.
  • Interest-Only Loans for those with abnormal cash flow or those looking to keep payments as low as possible.
  • Canada Mortgage renewal.

Use our quick and easy online form and contact us today to talk about your home mortgage refinancing options.

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