Toronto Mortgage Refinancing
“We Provide Toronto Mortgage Refinancing Options For Residential and Commercial Mortgages”
Toronto mortgage refinancing has become a bit more complex lately as the mortgage markets continue to settle out from the impacts of the recent recession.
Its not always going to be a given that your existing mortgage provider will renew your mortgage term, even if you’ve kept your payments up to date.
Over the last year or so there have been some mortgage company failures which has resulted in their portfolios either being sold off or taken over by a receiver whose job may very well be to just collect mortgages as the mortgage terms expire.
Even if you’re not in this type of situation, depending on your financial profile and the type of real estate property you own, there may be less options available to you than their were a few years ago as some of the program offers in the market have contracted.
When going through a Toronto mortgage refinancing exercise, you also have to be aware of the upward pressure on interest rates and that it may be wise to lock in a rate with another institution prior to your term coming due to protect yourself from interest rate increases prior to the end of the interest term as well as avoiding any prepayment penalties for renewing the mortgage early.
If you’re looking to get a better deal and/or consolidate debt through your Toronto mortgage refinancing activities, the best way to approach this exercise is to work with an experienced Toronto mortgage broker who has a solid working knowledge of the current market. For residential mortgages from institutional or bank mortgage providers, the broker is typically paid by the lender, providing you with their expertise and services for free in most cases.
Because of all the changes taking place in the market and the upward pressure on interest rates, making the right mortgage refinancing decision for your particular situation may be harder to figure out than you may think. And even if you’re able to complete the refinancing activity, its easy to leave money on the table with a less than optimal mortgage financing option.
If you’re considering a Toronto mortgage refinancing scenario, I suggest that you give me a call so I can quickly assess your situation and provide you with relevant mortgage refinancing options for your consideration.
About the Author Joe Walsh
I'm a Toronto Mortgage Broker that arranges mortgage solutions on residential and commercial real estate property. With over 30 years of mortgage financing experience, I'm able to quickly assess your financing requirements and provide relevant solutions for your immediate consideration. Joe Walsh Google+ YouTube Channel