Jeff Di Lorenzo
Mortgage Specialist
Cell : (778) 839 3963
Email:
Jeff@yourequity.ca
 TMG The Mortgage Group Canada inc.
&
The Mortgage Group Alberta LTD.
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Refinacing
Refinancing may be undertaken to reduce interest rate or the interest costs, to extend the repayment time, to pay off other debt to reduce one's periodic payment obligations sometimes by taking a longer-term loan, to reduce or alter risk and to raise cash for investment or the payment of a dividend.
Another use for refinancing is to reduce the risk associated with an existing loan. Interest rates on adjustable-rate loans and mortgages shift up and down based on the movements of the various indices used to calculate them. By refinancing an adjustable-rate mortgage into a fixed-rate one, the risk of interest rates increasing dramatically is removed, thus ensuring a steady interest rate over time.
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