Interest Rates

Posted Rate Term Our Rates
6.00% 5 YR VARIABLE CLOSED 5.00%
6.39% 5 YEAR FIXED CLOSED 5.39%
6.54% 1 YEAR FIXED CLOSED 5.54%
5.99% 2 YEAR FIXED CLOSED 5.54%
5.99% 3 YEAR FIXED CLOSED 5.59%
5.89% 4 YEAR FIXED CLOSED 5.44%
5.89% 7 YEAR FIXED CLOSED 5.29%
6.50% 10 YEAR FIXED CLOSED 6.00%

*rates are subject to change without notice

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Mortgage Refinancing

Refinancing your mortgage can change your monthly payments owed on the loan by either charging the interest rate on the loan, or by altering the term of the loan.

Mortgage refinancing is undertaken to:

  • · Reduce interest rates, so you can get the best interest rates
  • · Reduce the periodic payment obligations by taking a longer-term loan
  • · Reduce or alter risk, such as refinancing from a variable-rate to a fixed-rate loan

However, before changing your financing, it is important to consult with your mortgage broker about the right time to refinance. Many people fall into the trap of mortgage refinancing as soon as interest rates fall, without considering whether it makes financial sense. Getting the best interest rates while considering the extended term of the loan are important factors to consider before refinancing.

I deal with 10-15 different financial institutions, which can help you with your refinancing options. I can find the right refinance structure with the best interest rates for you, for no additional cost.

The following are the benefits of refinancing:

  • · Lowers monthly payment - Lowering your monthly cost with the best interest rates, will result in greater monthly cash flow.
  • · A shorter amortization period - If your new interest rate is substantially lower than your previous rate, then you may want to consider shortening the term of the loan with a slightly higher mortgage payment. Consult with your mortgage broker about your mortgage refinancing options.
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