This was our first time shopping for a mortgage outside a bank. Dealing with Jesse made the whole mortgage process stress free. His rate was better than the three rates I was quoted by local banks. Jesse took the time to ensure that we understood and were comfortable with the mortgage terms and conditions. Unlike the banks we dealt with in the past, Jesse was focused on the options that were the most beneficial to my family. I have and would recommend Jesse to my friends and family. Next time our mortgage is up for renewal, Jesse will again get our business.
Thanks Jesse.
Keep up the good work!
Remortgaging Your Home in Brantford, ON: Understanding Remortgages
If you own a home in Brantford, ON, you may be wondering if remortgaging is the right choice for you. Remortgaging is the process of switching your current mortgage to a new one, often with a different lender, to get better terms or access to equity. A remortgage is one way to tap into the value of your home, and in this article, we’ll explore what it is, how it works, and whether it might be a good option for you.
What is a Remortgage?
A remortgage is a type of loan that allows you to borrow against the equity in your home. Equity is the difference between the current value of your home and the outstanding balance on your mortgage. For example, if your home is worth $400,000 and you still owe $200,000 on your mortgage, your equity is $200,000.
When you take out a remortgage, you’re borrowing money against that equity. The loan is secured by your home, meaning that if you don’t make your payments, the lender can foreclose on your home to recoup their losses. Remortgages usually have fixed interest rates and terms, which means that you’ll have a set monthly payment and repayment schedule.
How Does a Remortgage Work?
To get a remortgage, you’ll need to have equity in your home and apply with a lender. Our mortgage firm can help you through the process of applying for a remortgage in Brantford, ON.
When you apply for a remortgage, the lender will look at the amount of equity you have, your credit score, and other factors to determine how much they’re willing to lend you and at what interest rate. If you’re approved, you’ll receive a lump sum of money that you can use for any purpose.
You’ll then start making monthly payments on the loan, which will include both principal and interest. The loan term is usually shorter than your primary mortgage, and the interest rate may be higher because remortgages are considered riskier for lenders.
Benefits of a Remortgage
There are several benefits to taking out a remortgage in Brantford, ON:
Is a Remortgage Right for You?
While there are benefits to taking out a remortgage, it’s not the right choice for everyone. Here are some factors to consider before you apply:
Remortgaging your home can be a daunting process, but using a mortgage agent in Brantford can provide several benefits. Here are some benefits of using a mortgage agent when remortgaging your home:
In summary, using a mortgage agent in Brantford 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 Brantford.