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Valko Financial Mortgage

Refinance

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Life happens.

Mortgage Team Divider

Whether you are facing a financial emergency, wanting to improve your financial situation, put more into your investment portfolio or simply wanting to spoil yourself with a long overdue trip, mortgage refinancing can be the answer – when done properly!

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What is mortgage refinancing?

Refinancing your mortgage refers to the process of renegotiating your current mortgage agreement for a variety of reasons. Essentially, refinancing allows you to pay off your existing mortgage and replace it with a new one.

There are a variety of reasons to consider mortgage refinancing, including but not limited to:

  • You want to leverage large increases in property value
  • You want to get equity out of the home for upgrades or renovations
  • You want to expand your investment portfolio
  • You are looking to consolidate your debt
  • You have kids headed off to college
  • You are going through a divorce
  • You want a better interest rate
  • You want to convert your mortgage from fixed to variable (or vice-versa)

As with everything, refinancing comes at a price!

Mortgage Team Divider

If you are experiencing a financial rough-patch or one of the previously mentioned situations and think that refinancing your mortgage could be the right solution, there are a few things to know.

The first and most important thing to understand about mortgage refinancing is that if you opt to refinance during your term, it is considered to be breaking your mortgage agreement. As with any contract, there are associated penalties for breaking them and it could end up being quite costly. If at all possible, it is always best to wait until the end of the mortgage term before any refinancing is conducted.

Beyond the penalties, there are a few additional things to know about mortgage refinancing such as:

  • It allows you to tap into 80 percent of the value of your home.
  • It requires re-qualification under the current rates and rules
  • No default insurance is required, which could give you more lender options
  • There could be an appraisal cost or legal fees for the new mortgage agreement

Talk to us about refinancing

Mortgage Team Divider

It can provide you access to even greater rates and mortgage plans to best suit your needs and what you are trying to accomplish through your refinancing strategy.

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Testimonials

Mortgage Team Divider
Very knowledgeable and prompt to respond and help us out! We were able to get a great rate and feel comfortable changing our mortgage with the Valko team
Diana Bruulsema
My recent experience dealing with The Valco Team was very professional while also being very friendly and personal.I would recommend them for financial needs.
Gail Kropf
The Valko Team is really the best out there! They have always gone above and beyond to find us the best rates and make sound recommendations for us to get the most for our money. Wouldn't trust anyone else with our mortgage and financing! Thank you Tracy and team!
Karyn Mank
The service that we received from the Valko team was second to none. They were extremely knowledgeable, provided us with a variety of options and tailored the service to best suit our mortgage needs. We were able to call our specialist even after work house and she was always ready to answer our questions . It was great to have them midwife the process from our first inquiry to the closing of our new home. Thank you so for your amazing service . I know who I will be recommending to my friends going forward regarding regarding their mortgage funding needs
Misan Online
Tracy and the Valko Team’s exceptional knowledge, guidance and expertise made our mortgage transaction an easy and painless process. Highly recommend!
Kelly Brown
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Tracy and her team are here to help. Apply online or contact us today and allow us to help you along your journey in life. We will always provide sound financial advice on the best options for your mortgage.

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