August 16, 2018

Should You Take Equity From Your Home?

We all come to a point in our lives when we may need to refinance our mortgage to invest in a major purchase, home renovation, investment, emergency or consolidate outstanding debts. ┬áThe interest rates on mortgages are much less than borrowing via another vehicle. ┬áThere are some things you do need to consider before doing that refinance. 1. Your Mortgage Terms Will Change When you refinance your mortgage, what your institution will do is an ‘increase and blend’ on the interest rate, which means they will blend your existing mortgage rate based on the current mortgage owing and blend the…

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