Mortgage
Refinancing

Mortgage refinancing can, under the right guidance, lower your interest term and/ or rate. Experior Financial can help you discover if refinancing would be advantageous to you. If, for example, you had a low credit score when you purchased your home and have better credit now, you could receive a much better rate after a mortgage refinance. Another reason for a mortgage refinance would be to make a big purchase such as a vehicle, or even to reduce credit card debt. The interest rate on your mortgage (2-5%) is much better than the interest rate of a credit card (15-24%) and even most lines of credit, so rolling that debt in to your mortgage can be of some advantage. One other reason may be in order to have renovations done to your home, to increase the value or add a feature that you desire. Since it increases the overall value of the home, this can be leveraged as the repayment structure. The equity in your home can be repurposed in a number of different ways. There are however reasons not to refinance, so before you head down to the bank to go it alone, let us help you discover if mortgage refinancing is the right decision for your financial situation. Having a financial advisor on your side is the next great step in achieving financial literacy, and, with the right plan, financial stability!