With the recent news that in the past year Greater Vancouver real estate prices had increased by an average of 18% from already very high levels, and historic lows in rates possibly coming to an end soon, the time is a great one for homeowners to refinance their mortgages and reduce their unsecured debt, lower payments and provide themselves extra cash flow to handle life’s expenses and invest.
Refinances (even after the new government mandated changes) still allow homeowners to refinance to 85% of the value of their homes. Further, you can really use the refinance to your advantage by combining your refinance with a Tax Deductible Mortgage Plan (TDMP) tax structure to allow you to pay off your home in about 1/2 the time at no greater expense to you!
I would be happy to take some time to sit with you and discuss your options and the best route for you. As a mortgage broker, I am an advisor that provides value-added service in helping you as a homeowner make the best decision for your individual situation that you will not receive from your bank.
Please contact me if you or your friends and family would like more information.