REFINANCE

KAREN MCKENZIE

MORTGAGE BROKER

250-318-8891

There are many reasons why you might want to review your refinance options:

  • to increase your existing mortgage for investment purposes, consolidation of non-mortgage debt, to finance improvements to your home.


Let me help you negotiate with your existing lender or switch to a new lender who will give you the best rate. There are many factors to consider when refinancing your mortgage.

  • Access Equity for investment - if you plan on using the existing equity in your home as a down payment on a rental property, it's important that you begin the financing process in advance of making a formal offer. It's all about taking the right steps at the right time and creating access to said equity in advance in advance of requiring it.
  • Consolidate high interest debts - most unsecured debt is priced by your bank at a higher rate than your mortgage in order to compensate them for the higher risk. For many people it only makes sense to use available home equity to pay out this debt as it typically reduces interest costs significantly and can dramatically increase your monthly cash flow. If the total of the existing mortgage and the debt to be refinanced is less than 80% of your home's current value and you qualify in terms of income and credit standing refinancing your mortgage should be a breeze!
  • Home Improvements - if you want to spend a significant amount of money on improving your home, you may be able to take out more equity than you anticipated! I can advise you through this process. The total of the current mortgage and your new funds can not exceed 80% of your home's current value.

CALL NOW +1.250.318.8891

​karen@kamloopsmortgageexpert.ca