Thinking about refinancing your property?
Let’s start by seeing if it’s really worth it.
Renovations, debt consolidation, investment or another project: I'll look at how much equity is available and what refinancing would actually change in your payments.
Turning several payments into one can help your monthly budget, but I also need to look at the total cost and how long you’ll be carrying the debt.
The 4-step process to refinance your home
1. You tell me what you want to do
Why do you want to refinance? The answer can completely change the strategy.
2. I look at your equity and your numbers
Property value, current balance, penalty, new payment — you’ll see the numbers clearly before deciding.
3. I compare the options
Refinancing isn’t automatically a good idea. If the costs outweigh the benefits, you should know before you commit.
4. I take care of the next steps
If we decide to move forward, I take care of the file with the lender and the notary, and I keep you updated at every step.
Things to keep in mind
A few mistakes to avoid
Forgetting about closing costs
Focusing only on the rate
Refinancing without a clear goal
Don’t forget notary fees and appraisal costs. I’ll make sure I look at whether refinancing still makes financial sense once all the costs are included.
A mortgage is about more than the rate. A low rate with overly restrictive terms could cost you more if you need to make changes before the end of the term.
Using your home equity to cover everyday expenses can be risky. Before refinancing, I look at why you need the money and whether it actually improves your situation.
Refinancing should have a good reason.
Just because you can borrow more doesn’t necessarily mean you should. I also look at the payment you’ll be comfortable with after refinancing.
