mortgage refinance

Cash in on your property values with a refinance!

Jeff Evans

If you have followed my blog for a while, I think you would understand me saying that I find it difficult

mortgage refinance
By: Damian Morys

to come up with interesting original material to provide.  I mean…I am selling getting into the biggest DEBT that most people will ever likely incur, and I talk about a local housing market that appears out of control but actually is NOT.

The product I offer is intangible, and is the “nasty” part of a transaction that people otherwise enjoy.  No one goes out shopping to purchase that hot sexy mortgage, there is no Gucci or Prada branded mortgages I can put in the window that anyone will be interested in buying.  There’s an idea to justify a higher interest rate! “Yeah, I paid double what everyone else is paying, but it’s so worth it, the paper that I signed was so soft and smooth, and the quality of the printer was amazing!”

Anyways, rather than just write my grievances with the current situation, I tried to think differently.  

In any market, when someone is losing, someone else is gaining.  These are great times for a good portion of the population. So lets turn this around for a second.

There are many people who are benefitting from this market. However, they may not be feeling the full benefit. Why is this?  Because their home does not FEEL any different than it did when it was worth half as much!  A gain in value on paper is worthless until it is realized. (Another interesting thought…if your house doubled in value, it still means living in this city costs you 2x as much as it did before, only that you can still afford it.)

So how do you realize the benefit and enjoyment of the increase in your home’s value without selling it?  With a refinance.  There are many different things that you can do that will benefit you, or maybe you just want to enjoy spending some money.  You can:

  • purchase an investment property
  • consolidate debt
  • buy a vacation property
  • upgrade your current home
  • maximize your RRSP contributions
  • Take a vacation and visit family you haven’t seen in along time
  • Help your children to get into the housing market

There is really no end to the things you can do with money except for what your imagination dictates!

Refinance to enjoy your new net worth

If there are any items on your list that you would like to do, then there is no time like the present to do them.  The saying “make hay while the sun shines” is appropriate here.  Low interest rates have given people the ability to pay off their homes faster than ever before, and also gives them the opportunity to borrow money for other priorities at amazing rates.

Why would you not take advantage of this opportunity for your self?  Contact me by filling out the form on the right side of the page, and I will be in touch shortly.  I look forward to speaking with you.

 

Author: Jeff Evans

I am a mortgage broker, hair salon owner, squash player, student, and husband, aspiring to do good for people.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

mortgage broker Vancouver BC
Good news regarding OSFI rule changes
Jeff Evans
No Comments
This is just a quick note to let viewers know that IF you are one of the people with 20% or more down-payment and are in a position that the new OSFI rule changes affect your pre-qualification, that I can extend the current guidelines into the new year by up to 120 days provided that I have an application and am able to get a pre-approval in place with a lender for you before January 1.Read More
OSFI B20 mortgage guideline changes 2017 – Part 2
Jeff Evans
No Comments
This is a continuation of the article published here about the OSFI B20 morgage guidline changes for 2017. If you are familiar with mortgage brokers at all (which you probably aren't) you would know that we also have alternative sources of lending for situations where a mortgage borrower will not qualify with a prime institution.  We have what we call "B" lenders, who have higher rates but more flexible lending criteria, and we have private lenders, which are individuals and corporations who can lend money on on anything that suits them.Read More
OSFI B20 mortgage guideline changes 2017 – Part 1
Jeff Evans
1 Comment

B20?  Is that some kind of vitamin?

It certainly sounds like a vitamin, but unfortunately, it is something else altogether.  The Office of the Superintendent of Financial Institutions is the regulator for all federal mortgage lending institutions.  They set the regulations for mortgage companies like banks to follow (or ignore). The latest updates to the B20 mortgage regulations could bring some potentially very disrupting changes to the real estate market, especially if you are wanting to get a mortgage in Vancouver, or you are a mortgage broker in Vancouver. In summary:Read More