Mortgage refinancing is a procedure of getting a new mortgage to replace the previous loan. Doing so may have many favorable results, such as reducing monthly payment, faster loan payout, tapping into equity, or switching from adjustable-rate mortgage to fixed-rate mortgage or vice versa. Mortgage refinancing may save you thousands of dollars.

Mortgage refinancing may seem a good idea for all of you but may not be. Deciding if it is favorable or not primarily depends on your current situation.

Are you wondering if refinancing a mortgage will work for you? Well, for this, you need someone to assess your current financial situation and debts carefully. For this purpose, seek help from a mortgage professional.

Refinancing Mortgage to Consolidate Debt

Debts are heavy on both your mind and your pocket, and paying them off with low-interest loans is the best idea.

Debt consolidation means paying off your high-interest debt with a low-interest loan to help save interest payments you were paying. The primary motive of debt consolidation is to lower monthly costs.

Some people refinance their mortgages to pay off debt. This can be done with a cash-out refinance. Cash-out refinances mean getting a mortgage of more value than what one owes and getting a check for the difference.

Before refinancing to consolidate debt, you should check if you have enough equity. If you owe more than 80% of your property’s value, you will have to buy mortgage insurance.

Best Service for Mortgage Refinancing in Kelowna

Are you searching for the best mortgage refinancing in Kelowna? Let me tell you, you are at the right place. IMI Financial Group has 25 years of experience and commits to providing you with the lowest rates for mortgage refinancing.

Additionally, it offers the fast approvals for mortgages in Kelowna. Our experts carefully study your current situation, finances, funds, and debts.

Throughout the debt consolidation procedure, they will be with you, guiding you at every step and ensuring you understand everything about your mortgage plan.

Our belief: lowest rates and fastest and easiest approvals make the best mortgage. This belief helps IMI Financial Group perform the most and stand ahead of all other mortgage companies.

You can now stop worrying about unexpected hurdles while consolidating debt and start focusing on one payment instead of many. This will help you sort out your finances.

Around 97% of our customers are happy with our services and claim that they were able to get easy and fast mortgage approvals that fulfilled all their needs.

IMI Financial Group looks forward to building an everlasting relationship with its customers. We understand that mortgages can be confusing, so we decided to take the pain of high-interest rates away, helping you live the most of your life.

For better peace of mind and sorted finances, apply now to IMI Financial Group and let our experts assess your situation and guide you in the best way possible.

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