Specializing in refinancing existing mortgages, we ensure you maintain the best terms to achieve your financial goals. Refinancing built-up equity opens doors to many financial opportunities.
In addition to traditional mortgage solutions for home buyers, Dream Key also specializes in the refinancing of existing mortgages to ensure you continue to receive the best terms possible to achieve your financial goals.
Although many might refinance to secure a lower interest rate or reset a monthly budget, too few consider the benefits of refinancing their mortgage when trying to recoup the losses associated with unsubstantial unsecured debt.
Dream Key Mortgage can help you with your overall monthly debt obligation with refinancing, by consolidating your current unsecured borrowing and debt load under one roof to cut the total amount of interest tied to each debt. This type of consolidation can help you achieve a significantly lower total monthly payment by allowing you to bundle all your debts into one easy monthly instalment, while only marginally increasing your mortgage payment. In some cases, your new mortgage payment could be even lower compared to your original agreement. This will open up more available income to put toward the things that really matter.
If you are interested in minimizing your cost of living to maximize your buying power, Dream Key Mortgage is here to help. Refinancing your mortgage is also a great way to gain access to more money while avoiding high-interest rates, as this type of lending is considered a secured loan. A secured loan is one of the best and cheapest ways to borrow in the Canadian Banking Market, as it allows you to retain a higher borrowing amount at a lower interest rate because you are backed by the security of your assets while considering your built-up equity.
With rapidly rising prices in the Toronto / GTA housing market, built-up equity can open a lot of opportunities to expand your financial horizons. Using your available equity and minimizing the cost of borrowing is an excellent solution to those looking to make another significant purchase or to refinance their property.
As an example, interest on an average car loan from the Bank or any other major Financial Institution can vary from 7-10% annually; however, by refinancing your mortgage and amalgamating these payments, your interest will be significantly less.
Even if you are financially sound but want to get closer to your retirement goals, traditional saving accounts such as pension funds and RRSP’s are not going to provide the same sufficient return. That is why more and more Canadians are taking the avenue of investments and the stock market to diversify their investment portfolio with the most proven sound investment being Real Estate. Have you ever thought about owning properties and using them as your retirement income? Dream Key Mortgage wants to make that possible for you! We’d love to grab a coffee to discuss the benefits and explore your opportunities of refinancing your mortgage in order to get you closer to achieving your long-term financial goals. Get in touch with us today to book a time with our team. We’d love to chat!
This call is designed to get to know the client better. We request the appropriate documents required to obtain an approval with a lender and we ask preliminary questions to better understand the client’s goals & financial situation.
Completion of a quick and easy online mortgage application followed by uploading all of the required documents requested by the Mortgage Agent. This will allow us to determine the best mortgage solution for you along with providing an estimated pre-qualified mortgage amount.
Once your application is submitted & reviewed, the lender will issue a conditional approval. This means there are still certain specific conditions that need to be satisfied before a final approval is issued. Examples of these conditions may be; income clarification, rental income confirmation, appraisal/fair market rent analysis, and many more. At this time you will also sign, complete and go through all of the fine details of the mortgage commitment with your Mortgage Agent.
After satisfying all conditions, the lender will issue the final approval and send your real estate lawyer the solicitor instructions for finalizing your mortgage on closing day.
The final step involves signing the closing documents with your real estate lawyer. Your real estate lawyer will review all solicitor documentation, conduct a title search, register for title insurance, handle the transfer of property ownership, as well as, collecting/disbursing the funds for downpayment plus closing costs.