This can be done with the same lender you have now or switching to another one. There are many reasons to consider refinancing your mortgage, such as:

• Consolidate higher interest debt
• Extend out the amortization to lower your mortgage payments
• Combine multiple mortgages into one new one
• Lower your mortgage rate
• Access equity in your home for upgrades, emergencies, down payment on another property, investments, or a life event such as a wedding or your child’s tuition

When deciding whether to refinance your mortgage there are several factors to consider. If setup prior to the maturity of your existing mortgage, there may be a penalty to break the existing one. Despite this, a mortgage will always be the cheapest way to borrow funds and in many cases, such as with debt consolidation, the costs to refinance can be mitigated or even offset when factoring in the savings on the debt being paid out, and allow you to take advantage of an increased cash flow sooner.

If you have credit issues, debt ratio issues, are self-employed or had difficulty in the past qualifying for a refinance with your bank for whatever reason, I can still help as I also work with lenders that have more flexible lending guidelines.

Find out what options you have with a mortgage refinance and how it can be utilized to your advantage!