What is Mortgage Refinancing?

Refinancing your mortgage refers to the process of renegotiating your current mortgage agreement for a variety of reasons. Essentially, refinancing allows you to pay off your existing mortgage and replace it with a new one.

There are a variety of reasons to consider mortgage refinancing, such as:

  • You want to leverage large increases in property value
  • You want to get equity out of the home for upgrades or renovations
  • You want to expand your investment portfolio
  • You are looking to consolidate your debt

What are the benefits of mortgage refinancing?

  • Potential access to better interest rates
  • Ability to consolidate your debt
  • Utilizing your home equity to use funds for other purposes