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Before you refinance PDF Print E-mail
Georgetown Real Estate
georgetown_400_280Your Real Estate investment, this being your home, is most likely the largest and most important investment you have made.  For most of us mortgage financing to support our investment is necessary. Currently we are experiencing historically low rates in both short term and long term contracts, today’s five year posted rate is at 5.39 and most financial institutions will discount this rate to 3.89 (Scotiabank posted rate February 8, 2010)  This may be the most appropriate time to consider a refinance especially if your are three years into your current term.

Your Real Estate investment, this being your home, is most likely the largest and most important investment you have made.  For most of us mortgage financing to support our investment is necessary. Currently we are experiencing historically low rates in both short term and long term contracts, today’s five year posted rate is at 5.39 and most financial institutions will discount this rate to 3.89 (Scotiabank posted rate February 8, 2010)  This may be the most appropriate time to consider a refinance especially if your are three years into your current term.

The Greater Toronto Area specifically, Georgetown, Acton and Milton are my specific Market Areas with Scotiabank.  These areas have held their own.  In the latter part of 2009, we have seen record prices for home sales. When considering a refinance the bank establishes a value for your real estate investment and this value determines the amount of financing you may qualify for. Market comparables are key to establishing the value of your home for the purposes of a refinance.

There are many advantages to refinancing in today’s environment:

  • Historically low rates
  • Debt Consolidation
  • Completing a home improvement that will add value to your home
There are also a few disadvantages to refinancing:
  • Larger mortgage Amount
  • Longer amortization (depending on what you negotiate)
With the right advice you may be in a position to leverage your Real Estate asset, lower your monthly payments and structure your mortgage financing in a way that you’re mortgage free sooner.  The Scotiabank Total Equity Plan is a great product and may be the most appropriate financial vehicle that will enable you to take advantage of our current mortgage rates, reduce peripheral debt and if structured properly, you will be mortgage free sooner.  Please contact me for a no obligation review of your mortgage financing, I may be reached at 416-434-5992 or via email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it This e-mail address is being protected from spambots. You need JavaScript enabled to view it . I am available to answer your questions.

By Lisa Hartsink, Royal LePage, Meadowtowne Realty
For more informatio about Georgetown real estate market visit www.lissahartsink.com
Phone: 905 877 8262
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