Make Your Home Mortgage Work Better for You

Refinancing means replacing your current home mortgage with a new one that better suits your financial life. It can lower your monthly payments, give you extra money from your home’s value, or help you pay off other debts. Think of it like updating your mortgage to match your current needs. Refinancing has helped people from Hamilton and others all across Ontario.

What Is Refinancing?

1. Pay less each month.
    

2. Get money from the value of your home (up to 80% of what it’s worth).
    

3. Combine other debts, like credit cards, into a single payment.
    

4. Change how long you’ll pay your loan or the type of interest rate you have.

Who Can Refinancing Help?

1. Homeowners Wanting Lower Payments: If your mortgage's interest rate is high, refinancing can get you a lower rate to save money each month.
    

2. Families Needing Extra Money: You can use your home’s value to pay for things like emergencies, fixing up your house or school costs.
    

3. Homeowners With Credit Card Debt: If you have accumulated credit card debt, you can combine this debt with your mortgage to pay a lower interest rate and reduce your monthly debt payment.
    

4. Homeowners Needing A New Car: Your home equity can be used to purchase essential items like a new family car at a lower interest rate.
    

5. Self-Employed People: If you don’t have a regular paycheck, refinancing can help you with cash flow or funding your business.