11 Jan

Abbotsford Refinance – Refinancing Your Mortgage

Mortgage

Posted by: Matt Robinson

Are you interested in lowering your monthly mortgage payments? Do you have unexpected medical bills you need to pay? Or perhaps there are some renovations you would like to do in your home?

If so, have you considered refinancing your existing mortgage to help you offset some of these additional expenses?

While a mortgage refinance is not something to jump into without all of the facts, there are many reasons for homeowners to consider refinancing their existing mortgage, including the ones mentioned above.

When you refinance your mortgage, you are basically replacing your current mortgage with a new one. This new mortgage will have either a different interest rate, term or loan amount – or possibly all three. If you want to lower your monthly mortgage payments, you may try refinancing to a lower interest rate or a longer term. Some homeowners manage to save up enough to pay off a portion of their loan, giving them the option of refinancing their mortgage and obtaining a new mortgage with a lower loan amount.  If you want to access some of the equity that you have built up in your home, you may try to refinance to a larger loan amount.

While taking advantage of lowered interest rates is the most common reason to refinance a mortgage, that is clearly not the only reason. In fact, there are some cases where you may be better off adjusting other aspects of your mortgage contract instead of negotiating for a lower interest rate.

Because you are essentially obtaining a new mortgage, the process of refinancing your mortgage is just as involved as it was with your original mortgage. You will still be required to fill out an application and your qualifications and eligibility will still be evaluated. There may also be additional closing costs associated with your refinance, similarly to when you closed on your original mortgage.

Refinancing your mortgage can be a complicated process, which is why it is so important to work with an experienced mortgage professional. As a trusted Abbotsford mortgage broker, I am here to make sure that refinancing your mortgage is indeed the best option for your situation and, if it is, to make sure you are getting the best financing possible!

If you are thinking about refinancing your mortgage, give me a call today!

13 Dec

Chilliwack Mortgage Broker – 4 Questions to Ask Your Mortgage Broker

Mortgage

Posted by: Matt Robinson

As a Chilliwack mortgage broker who has been working in Chilliwack, Abbotsford and the surrounding area for some time, I have helped numerous clients achieve their dreams of affordable home ownership. I do this by providing my clients with all the tools and resources they need to make confident decisions about their mortgage options.

As a professional in the industry, I believe that my job involves more than just getting mortgages for my clients. It involves educating them throughout the process and relieving the burden of stress that tends to come with the mortgage process.

I truly enjoy the relationships I have built with my clients over the years and I love being able to help them enrich their lives through the pride and joy that comes with the purchase of a new home.

I understand that each of my clients had a chose to make when it came to who they were going to work with for their mortgage, and I am honored to have been chosen by so many.

In an effort to make your decision easier, I decided to create this post with a list of questions that are important for borrowers to ask before they choose their mortgage broker. The answer you get when you ask these questions should help you narrow down your search and find the mortgage broker that is the best fit for your needs.

 

Question Number One – Do You Have References?

It is important to feel that you can trust the person you will be working with, especially when it comes to such a large financial transaction, like the purchase of a home. If you were not referred to the mortgage broker by someone you trust, make sure to find out what people have to say before making your final decision.

 

Question Number Two – How Long Have You Been in Business?

With this question, you don’t necessarily need to be looking for someone who has been in the business for 20-30 years. While that amount of experience is fantastic, someone who is relatively new to the industry (at least 5 years of experience) could still provide you with outstanding service and may be more up to date on the latest market news and trends.

 

Question Number Three – What Does the Application Process Look Like?

Regardless of who you decide to work with, you will want to know in advance what to expect from the application process, what paperwork or verification will be required, and how long you should expect the process to take.

 

Question Number Four – Do You Have Any Areas or Loans That You Specialize In?

Whether you have problems with your credit or you are self-employed, every situation is different. Each of these different situations requires a different level of service and, of course, different financing options.

Be sure to find out if the brokers you are considering have experience or the required qualifications to work with you on your particular situation.

Asking these four questions should help you get off to a great start when it comes to deciding on the right mortgage broker for you!