Best Refinance Mortgage

So, you are considering refinancing your mortgage but aren’t sure if now is the RIGHT time? Answer: IT IS!

Fact: The average household debt figure at the end of 2010 was $100,879, with the debt-to-income ratio at a record 150 per cent, the report says. That means for every $1,000 Canadian families earn after tax, they now owe $1,500. Mortgages account for two-thirds of that debt at $63,000 per household. The other third is made up of personal loans and credit card debt.

Source: Globe & Mail Feb 17, 2011

Quick comparison: lets say you currently have $200,000 mortgage at 5% and amortization of 25 years.  Your payment would currently be in the ballpark of $1,163 and interest costs of $148,962!.

At todays interest rates of “approximately” 3.49% you are looking at a monthly payment of $997 and much less interest of $99,244 over the entire amortization period.

Pretty Incredible isn’t it?

Why not see if you can qualify for these LOW RATES!

We are NOT a lender or mortgage broker, we cannot guarantee any rates mentioned above to be accurate at the time of your request.  However, we are happy to match you with one of our 250 mortgage lenders at NO COST to you!