GC Mortgage also refinancing your mortgage. Refinancing mortgage is the process of getting a new mortgage to replace the original mortgage. Refinancing is done to allow a borrower to obtain a better interest rate. For borrower with a prefect credit history, refinancing can be a good way to convert a variable loan to fixed and obtain lower interest rate. With the significant appreciation of housing prices in the past few years, many of our good credit clients decide to unlock their value of their homes by refinancing their mortgage for variety of purposes including:
• Asset enhancement
• Combining first and second mortgage.
1) Acceptable loan purpose: Refinancing purposes include asset enhancement, debt consolidation,
combining first and second mortgages and investment purchases.
2) Loan to value ratio limits: It is the relationship between the principal balance of mortgage and the property value.
3) Amortization options
For more information on the refinancing mortgage, call our Mortgage Specialists: 905-670-5096.