The REAL Story of Robert and Patti:

Fred Photo

By Fred Knowles

I reached out to Robert and Patti in January, three months before their mortgage was up for renewal. We had a great chat, and through our conversation I learned they were looking to start a kitchen and flooring renovation in the spring. This got us talking about options for financing the project. Their original plan was to use a combination of savings and an existing unsecured line of credit from their bank. We discussed the option of refinancing and pulling a small amount of equity to fund the job. They loved the idea of paying for their renovations at the same low rate as their mortgage.

Since their rate was so low, they decided to finance the entire project with the proceeds from their refinance. They took a chunk of their cash savings and added it to their investment portfolio. Their high interest bank line of credit; remained at $0 dollars and left open for an emergency.

Refinances are often a powerful tool for consolidating debt and opening up cash flow. This was just one example of the many ways a refinance can help you save. A Mortgage Agent goes beyond finding you the lowest rate. We pride ourselves on finding creative solutions to any situation that comes up. Our advice is always free and unbiased.

If you have considered any of the points below, now is the time to review your options for a refinance.

  • Consolidating higher interest debt
  • Financing a project
  • Obtaining a lower mortgage rate

Take the first step. Reach out for a chat and find out how you can start saving more money today!

Fred Knowles

Mortgage Agent

DLC The Mortgage Source – FISCO 10145

613-857-1423

About The Author

Leave a Reply

Your email address will not be published.