The word "refinancing" generally means terminating one mortgage loan agreement to enter into a new one during the same term. While there are often penalties for this, it can be worth it. Here are three key examples:

  1. Paying off higher interest debt: If you have built up equity in your home (i.e. your home is worth much more than you owe on the mortgage), you can increase the mortgage amount and use the extra cash to pay off higher interest debt, like credit cards.
  2. Reducing the mortgage interest rate: Since mortgage loans are usually held for 20 years or more, even a small decrease in interest rate can have a significant impact on the total cost of borrowing this money. The penalty for terminating your current agreement may be far less than what you can save with a lower interest rate.
  3. Changing the details of the agreement: Let’s say you get married, and your new partner gets a large commission payment once a year. You could significantly reduce the amount you pay in interest and pay off your mortgage much sooner, if your mortgage agreement allows you to make a lump sum payment once a year.

If you have high interest debt, if mortgage rates have dropped, or if your financial situation has changed, do yourself the favour of talking to us. Ravi and his team can run calculations on numerous different scenarios, to let you make the most advantageous decision.

Mortgage Testimonials

Helped Me Buying My First Condo

Ravi was an angel to me. It was my first time buying a property and i didn't know anything, but Ravi patiently answered my million questions and guided me through out the whole process. He got my mortgage approved in 2 days and i moved in to my new condo in less than 3 weeks. I'm grateful for all his support and now im happily enjoying my beautiful condo with my family. I highly recommend his services to all my friends

Surrey BC
Honest and Dedicated Business Professional

Being in the insurance industry for over 17 years, I have rarely seen such a high success rate for approved mortgages.

 Sonny Saran
Great To Work With

I found Ravi Singh to be a very pleasant and professional person to handle my mortgage needs. I highly recommend him to all my family and friends! Thanks again!!

Surrey BC
Commitment to Service Excellence

As an accountant i've referred many of my clients to Ravi Singh because I am confident they will be in good hands. Thanks for your hard work and commitment to service excellence.

 Nijjar Accounting
Surrey BC
The Best In The Business

I can't thank Ravi enough for helping me get a 2nd mortgage when the banks weren't able to. He updated me with how things were going, so that was great on his part. He is best in the business. Definitely give Ravi a call if you need help with mortgages! Thanks Ravi!

 Ramesh Sharma
If he can't do it no one can

Being a self employed it has always been a challenge getting my mortgages approved through my bank. But luckily couple of years ago my realtor referred me to Ravi, and so far i've got 3 mortgages through Ravi. Surprisingly every single time Ravi finds a ways to get my mortgages approved. You are the MAN!!!

Mission BC
Got us a Mortgage Despite bad Credit

When all the banks were turning us away due to poor credit, Ravi worked his magic to get us approved as well as helped us in re-building our credit! We are forever grateful for his efforts and his hard work to get us the answer we wanted.

 Gary D
Great Service!

Great Service. I can always rely on Ravi to provide me with trusted advice and solution to all my mortgage needs. He's been my mortgage advisor for almost 10 years now.

Helped me pay off my CRA taxes

I would like to give a huge thanks to Ravi for helping me refinance my mortgage to payoff my CRA taxes. I will definitely be calling Ravi in the future for any of my mortgage needs and would recommend him without hesitation.


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