I would really like to thank you Jesse for your help and guidance during my remortgage with you. Your professional advice and 7 day 24hr service is un touchable in this day and age. I was always scared to death thinking about a remortgage based on how most banks work and how they prolong the process, usually to the point that you are discouraged by the time it is completed, but with you Jesse, it was a walk in the park and very quickly completed and I will certainly reference any one I hear of that is thinking of a remortgage renewal. Most of all I want to thank you for all the cash that you freed up for me, with your great interest rate and terms you were able to save me more than $800.00 per month.
Thanks again!! Your help was much appreciated.
Remortgaging with Bad Credit in Georgetown, ON: Exploring Home Equity Loans
If you're a homeowner in Georgetown, ON and you have bad credit, you may be wondering if remortgaging is an option for you. The good news is that it is possible to remortgage with bad credit, thanks to home equity loans. Our mortgage firm can help you understand how these loans work and whether they're right for you.
What is Remortgaging?
Remortgaging, also known as refinancing, is the process of paying off your current mortgage with a new mortgage. This can be done for a variety of reasons, such as getting a better interest rate, consolidating debt, or accessing the equity in your home.
How Can Home Equity Loans Help with Remortgaging?
Home equity loans allow you to borrow against the equity in your home. Equity is the difference between the value of your home and the amount you owe on your mortgage. For example, if your home is worth $300,000 and you owe $200,000 on your mortgage, you have $100,000 in equity.
With a home equity loan, you can borrow against that equity. The amount you can borrow will depend on the lender and the amount of equity you have in your home. Typically, lenders will allow you to borrow up to 80% of your home's value.
One of the advantages of home equity loans is that they are secured loans. This means that they are backed by your home, which gives lenders more security. As a result, they may be more willing to lend to borrowers with bad credit.
Why Consider Remortgaging with Bad Credit?
Remortgaging with bad credit can help you in a few ways. First, if you're struggling to make your current mortgage payments, remortgaging can give you some breathing room by reducing your monthly payments. This can be especially helpful if you've experienced a change in your financial situation, such as a job loss or a medical emergency.
Second, if you have high-interest debt, such as credit card debt or personal loans, remortgaging can help you consolidate that debt into a single, more manageable monthly payment. This can help you pay off your debt faster and save money on interest.
Finally, if you have a major expense coming up, such as a home renovation or a child's college education, remortgaging can help you access the equity in your home to pay for it. This can be a more affordable option than taking out a personal loan or using a credit card.
How to Remortgage with Bad Credit
Remortgaging with bad credit can be challenging, but it's not impossible. Here are some tips to help you get started:
Remortgaging your home with bad credit can be a daunting process, but using a mortgage agent in Georgetown can provide several benefits. Here are some benefits of using a mortgage agent when remortgaging your home:
In summary, using a mortgage agent in Georgetown for a remortgage can provide homeowners with access to multiple lenders, expert advice, time-saving, competitive rates, personalized service, flexibility, stronger negotiation power, reduced risk of rejection, and ongoing support. These benefits can make the remortgage process smoother, more efficient, and more beneficial for homeowners in Georgetown.