Mortgage Refinancing

You can refinance your mortgage for up to 80% of your property’s value without involving insurance such as Genworth or CMHC!

Housing prices have gone up, you have been making your payments on a regular basis. This means you have equity in your home. You can take advantage of this equity by refinancing your mortgage. PrestoMortgages has deep expertise in mortgage refinancing with minimal hassle to you and your family.

There are many reasons to access the equity in your home. Some of the most common reasons we see with our clients are:

• Debt consolidation to payoff high interest debts and increase your monthly savings.
• Lowering the mortgage payment to take advantages of today’s favorable rates;
• Taking the home equity and investing it in another property or using other investment tools
• Using the cash from the unlocked equity in order to improve the home through renovations
• In order to combine first/second mortgages

The economy has been fantastic for real estate appreciation, but less so in income increases. If you are in a cycle of payments that is affecting your life, PrestoMortgages can help you rid that burden through refinancing. You may find yourself trapped in a bad interest rate from a different period when rates were higher and want to take advantage of today’s low rate environment. We give you this ability through our refinancing options.

A conversation with PrestoMortgages is collaborative and personal. We take the time to understand your needs and financial situation. We have been advising clients in Ontario for mortgages and refinancing with 35 years of experience. Take control of your finances, the first step is a conversation with a deep expert at Presto.

We have standard refinancing terms which involve the standard rules applied by lenders in Ontario. However, as we are also the source of funds, we can be much more flexible on terms that suit your personal financial situation. The Loan to Value (LTV) ratio will be based on our discussion with you. We do not put customers in ‘boxes’ and ratios, our underwriting is based on financials as well as details on your life which are just as important.