PURCHASE & REFINANCING
MORTGAGE PURCHASING VS MORTGAGE REFINANCING
Purchase a property is likely going to be the biggest purchase of your life, so it is important to have the right team by your side. The mortgage pre-approval is the first part of the home buying process, this will give you the ability to know exactly what you can get approved for with confidence. When purchasing a property you may want to determine the amount of time you will spend living there along with other factors. This will give you a better understanding of exactly how you want to structure your mortgage so you can get the best possible mortgage product for your particular scenario.
Refinancing your mortgage can mean a few things. A refinance could be considered as simply breaking your mortgage contract with one lender
and switching to another. You may look to do this if you are stuck with a higher rate than what is currently being offered in the market, refinancing into a lower rate will likely lower your mortgage payment to offer you more monthly cashflow. Another reason as to why you may refinance would be to consolidate any high interest debt into your mortgage to allow you the flexibility of paying less in the long term while freeing up cash flow, or to access equity for whatever you desire.
We think that over time, home owners have been taught to focus primarily on the bank posted rates and less on ‘mortgage flexibility’. With our services, we will go through the extent of working out multiple scenarios through a mortgage option breakdown for your purchase or refinance to ensure that you understand the difference between your options.
GET ADVICE YOU CAN TRUST
In the mortgage industry clients will often get to invested in the to mortgage rates that they are getting and not enough on the other important details. Mortgage Wellness Group focus' on getting the best possible mortgage for our clients as well has having them leave with an understanding of their mortgage. Knowing you're in the right hands with the biggest investment of your life is important and should not be taken for granted.