Refinancing at Maturity

When your mortgage term reaches its maturity, three things happen.

  • There’s no penalty for pre-paying it in part or in full. You can move it to another financial institution or refinance it without a prepayment penalty.
  • You’ll get an offer from your bank to stay with them for another term. Each term option will come with an offered rate. This is a great time to shop around for the best terms.
  • Your circumstances and goals may have changed, so it’s back to the drawing board to ensure the way you choose is ideal for you.

Sounds like your case? Continue
Post 04

Home Improvement Refinancing

Improvements to your home can add to its value and appearance. However, paying for any home reno project is the most challenging part.

In the end, the financing you'll want for your project has a lot to do with the kind and cost of the renovations you're doing. Some programs will allow you to stretch beyond what a typical lender will let you do while remaining compliant with the rules.

Sounds like your case? Continue
Image 07

Home Equity Line of Credit

A Home Equity Line of Credit (HELOC) is one of the most convenient, flexible, and low-cost ways to borrow money.

It can help you access funds to improve your investments or help you get out of debt faster. You may want to cover a mortgage, purchase another property, do a home renovation, or pay for your child's education.

Sounds like your case? Continue
Image 05