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Large projects, small budget?
Mortgage refinancing is the solution
Did you know that the value of your house has most probably increased since you purchased it? This value gain can help you renovate your home. Refinancing allows you to use your home equity to secure a lower interest rate to finance your renovation projects.
Did you know that
- You can borrow up to 95% of the value of your condo, duplex, detached home, etc.
- Once the balance of your mortgage is deducted, the available sum could allow you to grow the value of your assets.
- You can borrow up to 90% of the net value for a three or four unit property and 85% for multi-unit buildings of more than 5 units.
- You can apply for refinancing at any time. Ideally, you should wait to be as close as possible to the end of your term to avoid penalties.
Here are some renovation projects that could increase the value of your property :
- Renovate your kitchen or bathroom.
- Build an addition to your house or enlarge your garage.
- Install an inground swimming pool in the backyard.
- Improve the appearance of your home with landscaping.
I recommand you hire a recognized APCHQ contractor for your renovations. Ideally, you should always obtain a quote from a professional or a specialized retail store for your renovation projects.
Contact me to discover the different options available to help you carry out your projects.
Source : Multi-Prets.com
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