Property Refinancing means that a new financing is arranged for the given property. Sometimes it is performed because a more favorable mortgage lender has been found and the interest rate and conditions of the new loan are better for the owner. However, for the most part property refinancing means Home Refinancing, in which case the owners obtain a new mortgage, a higher loan to value ratio, and pull out certain sum of money from the available equity. This is done for variety of reasons; an investment opportunity, a purchase of vacation property, to pay for children’s education, etc. In many cases refinancing can be a good option to get rid of debt. Home Refinancing is especially suitable for the individuals who own real estate assets and their equity share can easily cover their outstanding debt amounts. In such cases the debtors can save themselves a lot of money on the interest payments (assuming the new mortgage rate is lower than the current debt interest) as well as keep a good standing with their creditors and maintain strong credit score.
In the cases where home owners are not fond of obtaining a new mortgage a Secure Line of Credit can be registered against the property so that the owner can withdraw funds to pay off the debts but at the same time maintain repayment flexibility. Usually Secure Line of Credit has no repayment restrictions and offers a benefit of not paying the interest on the money that is not withdrawn. However, it may require larger equity share than property refinancing. In many cases it is a more convenient and beneficial financing method. The equity-debt assessment and client’s preferences will determine the best financing method to pay off debt.
We Can Help You:
- REFINACE YOUR EXISTING MORTGAGE
- OPEN EQUITY LINE OF CREDIT
- ACHIEVE HIGH LOAN TO VALUE RATIO
- OBTAIN VERY COMPETETIVE INTEREST RATES
- PAY OFF YOUR DEBTS FAST – REDUCE COSTS
- IN SOME CASES “ZERO” COST TO YOU(conditions apply)