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n Ontario, mortgage refinancing means replacing your current mortgage with a new one, possibly with a different lender. Homeowners often consider refinancing to tap into various benefits. Some refinance to benefit from lower interest rates, while others aim to quickly access their home’s equity. Consolidating high-interest debts like credit card balances through refinancing can positively impact your budget and credit score.
With refinancing, you might access up to 85% of your property’s value, minus any existing mortgages. This equity can be used for home renovations, stock investments, buying a new vehicle, acquiring additional real estate, and more. As a homeowner, you have the liberty to utilize these funds in ways that align with your financial objectives. Navigating home refinancing can be daunting, but our expert team, with extensive experience in the industry, is committed to ensuring a seamless and effective process, helping you understand the intricacies of rates and refinancing
A Home Equity Line of Credit (HELOC) is a flexible credit facility that allows borrowers to access the equity in their home, with the available amount determined by the home’s appraised value minus any existing mortgages. HELOCs offer the advantage of only paying interest on the amount used, making them a cost-effective option for various needs. Our team excels in securing HELOCs for clients, offering competitive rates and terms, making it an ideal solution for those looking to leverage their home equity to meet their financial goals.
We specialize in communicating with lenders on behalf of our clients’ needs to get the lowest possible interest rates and establish a successful payment plan
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By using a Mortgage Refinance to get a lower interest rate or consolidate multiple mortgages into one, you can reduce your monthly payments. In many situations, we have helped our clients reduce their monthly payments by up 75%! Helping our clients not only be able to better afford their obligations, but also be able to put money aside for what matters most!
As interest rates change, many of our clients will refinance to take advantage of those rates. For example, as rates rise, our clients might refinance their existing variable rate to a safer, longer term fixed rate. On the other hand, as rates drop, they might refinance their higher fixed rate to take advantage of lower rates that are being offered by the lenders at that time.
If you are drowning in debt and have multiple creditors calling, a Mortgage Refinance allows you to combine your current mortgage and outstanding debts into one low monthly payment. It’s a sensible solution to managing debt that will not only improve your financial situation, but also your overall health and wellbeing by reducing your stress and anxiety levels
Having bruised credit can be detrimental to most people trying to improve their financial situation. For most homeowners, the home equity they have built up over the years will mean they can obtain a Mortgage Refinance to help polish up their credit score and perhaps secure larger loans in the future.
Whether you have a project that you want to complete or are worried about having funds available to finance an emergency home repair like a leaky roof or cracked foundation, using a Mortgage Refinance to access the equity you have built up over time give you the cash you need to complete those renovations and get access to funds for emergency repairs.
When a great investment opportunity arises, it’s important to be ready to act. Accessing the built up equity in your home for investments such as buying a rental property or a second home is a great option. You can also use that equity for things like business investments, or whatever other great opportunities might present themselves.
Mortgage brokers are licensed financial professionals that have the resources to find the lowest rates and the appropriate payment plans for their clients. Working with a broker will save you time and ensure you get the best possible deal
A mortgage broker acts as the middleman between you and the extensive paperwork involved on your behalf for a set fee. They are often able to foresee problems that could arise during the application process and tailor your application based on what each lender needs.
The role of a mortgage broker is to act as a connection between the borrower and the lender to secure a loan on behalf of the individual or their business. Their responsibilities include negotiating rates, dealing with the paperwork, and facilitating an agreed-upon loan and payment plan
One of the most significant benefits of working with a broker is their extensive network, as they have the tools and resources to identify and obtain the loan that will fit your needs.
A mortgage broker compiles a homeowner’s financial documents, accesses their credit history, and confirms current and past employment to present an application to multiple lenders. They help negotiate the terms and conditions of your payment plan and, once the loan is agreed, will work with the lender to ensure a smooth and efficient transaction.
Mortgage broker fees in Ontario vary based on your unique situation and the solution you are seeking. Contact us today for a more personalized estimate of what you can expect your fees to be.
Owning a home is an investment that deserves detailed attention and care. When unexpected expenses occur, or you need to consolidate your debts, it’s essential to find the right broker to step in and offer a solution tailored to your financial needs. We operate with a vast network of lenders, including subprime mortgage lenders across the province, and we’ll work diligently to find the right match for our clients.
At Burke Financial, our mission is to give homeowners across Ontario the best possible borrowing experience through a high level of service and expertise.
When you work with us, you’re working with an award-winning team that specializes in getting even the toughest of applications approved. We’re putting money in your pocket faster, so you can invest in your future.
we know that each homeowner’s experience is unique. We offer a personalized approach and help connect our clients with subprime lending options across Ontario. From day one, we treat each interaction with our clients as a chance to change their borrowing experience to a positive one.
We take the time to understand what our clients are looking to accomplish with their applications. We personalize short-term and long-term solutions to help our clients achieve long-term financial health.
We look at our client’s main priorities to make sure we shape the optimal payment amounts, term length, prepayment privileges, interest rates, and much more. We know how important it is to align our clients with reasonable rates and terms and educate them on areas like an exit strategy to make sure they are always on the right path.
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