Your How to Guide to Refinancing your Mortgage

1. REVIEW YOUR REFINANCING OPTIONS

You may want to add that new kitchen you’ve been dreaming about, take a special vacation or even take care of your outstanding debt. To help you get there, you may want to reduce your term, switch from an adjustable-rate mortgage to a fixed-rate mortgage, or consolidate your first and second mortgages.

2. CHECK YOUR CREDIT

It’s a smart step to check your credit because lenders will do so. The better your credit rating, the more desirable your business will be to a lender. One easy step to start improving your credit rating is to not run up your balances to the limit on credit cards.

3. GO SHOPPING

Just like you shop for the best value on your groceries, your Mortgage Broker will go shopping on your behalf for the best interest rate and options. After all, a lower rate can save you big time in costs over the life of your new mortgage.

4. PREPARE A LIST

Your Mortgage Broker will need some basic information in order to move forward, such as your current lender’s details, how much you owe on your current mortgage loan, gross monthly income and the value of your home.

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