Mortgage Refinance in Edmonton, AB

Have you ever wondered if you can refinance your Edmonton property to pay out debt and take advantage of low-interest rates? If you bought your home when prices were low, you may be able to access equity from your home. Perhaps you want to take advantage of lower mortgage rates, borrow money for investments or pay down debt. Mortgage Tailors is here to help, give us a call to get the process started at 780-244-0505.

Refinancing is the process of getting a new mortgage with the intention to reduce monthly payments. You can take advantage of low-interest rates, take cash out for investments or consolidate high-interest debt. If your home has equity available, then we can refinance. Equity is the difference between the amount owed to your current lender and the current value of your property. You can refinance up to 80% of your properties appraised value.

WE’RE HERE TO HELP YOU MAKE THAT DREAM A REALITY.

Benefits of Mortgage Refinancing in Edmonton, AB

Refinancing provides an opportunity to pay out higher interest credit cards, vehicle loans, therefore, saving you hundreds in monthly payments. It allows you to invest your money as you wish, whether it’s RRSP’s, buying a rental property or renovating your home, therefore increasing its value and your investment!

We’ll review your current situation and what you want to achieve, and create a plan on how we can help you reach your goals. Our goal is to refinance your Edmonton home and save you as much money as possible. We understand mortgages and how important it is to make the right financial decisions.

When you refinance, you’re able to modify your mortgage so it adapts to your changing lifestyle. You even have the ability to change from an adjustable-rate mortgage to a fixed-rate mortgage to protect yourself from future payment increases.

Should You Refinance Your Mortgage?

REFINANCING ISN’T THE BEST OPTION FOR EVERYONE

It is beneficial if you have been in your home for more than 5 years as the savings can offset the cost of refinancing and you may have equity.

Since house values tend to increase over time, the value of your property may be higher than when you purchased it. If this is the case, we can refinance to access some of this equity to provide fast access to cash.

WHAT WE BRING TO THE TABLE:

Get cash out for any purpose
Consolidate high interest credit cards
Lower your monthly payments
Renovations and home improvements
Programs for self-employed
Canada's best pre-payment options

the reviews

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I had a few issues but she took care of them and made me comfortable knowing everything will work out.

I was very impressed by how well Eva got things done and in a very professional manner. I had a few issues but she took care of them and made me comfortable knowing everything will work out and It sure did! I will always go to Eva, you should too. She also speaks at seminars and has extensive knowledge, very informative!

We were able to consolidate some previous debt we had into our mortgage and she ended up saving us thousands of dollars each month.

Eva was awesome to deal with. We were able to consolidate some previous debt we had into our mortgage and she ended up saving us thousands of dollars each month. I would highly recommend her.

Eva works hard to get the job done and get the best rate.

Awesome experience. Eva works hard to get the job done and get the best rate. Im sure every situation is different and knowing I had someone who understand the market and my specific needs is reassuring. Thank you for the hard work and for getting the deal done! High fives and will definitely recommend and use again.

Refinance Situations

Contact Eva Neufeld at 780-244-0505 to see what options are available to you.

Home Renovations

If you are planning to do renovations to your home, refinancing to access some equity is a great place to start. The equity you withdraw from your property can be used towards home improvements, ultimately increasing your property value.

Change in Financial Situation

If your financial situation has changed, you may want to consider refinancing in order to update your mortgage terms. You may want to turn a variable rate mortgage into a fixed-rate mortgage or shorten the amortization to pay off your mortgage faster.

LET’S GET TO KNOW mortgage types:

Fixed rate vs. variable rate mortgages

I’ll explain how fixed rates versus variable-rate mortgages work and which is the best option for you. I’ll show you how fixed rates move up and down and whether locking in for a 5-year fixed rate is your best option. I’ll explain how banks calculate interest rate differential penalties.

Lenders can calculate penalties based on contract rates or posted rates. Posted rates give a higher payout penalty. It’s important to understand which lenders do this. We will go over how variable-rate mortgages move with the bank’s overnight prime lending rate.

A variable rate mortgage moves when the Bank of Canada releases its decision if it will raise rates, decrease rates or keep them the same. They meet every 6 weeks to decide what they will do. The best part about a variable-rate mortgage is how transparent the penalty is. It is only 3 months interest penalty if you break the mortgage anytime within the term.

WANT TO KNOW YOUR OPTIONS?

Edmonton, AB Mortgage Refinance Options

Our team at Mortgage Tailors will go over all these options, run payment scenarios to help you understand your mortgage choices and help you achieve your goals.