Did you know

By Refinancing your Mortgage, you can eliminate High Interest Personal Debt such as Credit Cards, Car Loans and Lines of Credit.

In this manner you can increase your Monthly Cash Flow and use that money to Invest in your future like RRSPs and so on.

This makes perfect sense in that you can earn more interest though investments than you will pay on your new mortgage at today’s all time low Interest rates.

You will also save on the amount of interest you are paying on your outstanding debt.

For example, Car loans can be 5-6 % interest. Credit Cards can be anywhere from 18 – 28% interest. Unsecured Lines of Credit ae generally lower than Credit Card but still very high.

Its also worth noting that if your Mortgage was taken in 2017 or 2018, you will likely be paying 3 – 3.5 % interest and you current Mortgage will be coming due soon making it easier to Pre-Maturely break and Refinance elsewhere.

Excellent food for thought.

Always speak to a trusted Mortgage Professional

Tom Parent – Mortgage Agent

Parenting People to Their Dreams!!