Loewen Group Exclusive: FREE REFINANCE Program is BACK
Have summer vacations left you with maxed out credit cards?
Do you have BIG plans for the remainder of 2016 that you may need to access equity in your home to pay for?
What about a Line of Credit that you can’t seem to make a dent in paying it down?
If you answered yes to any of these questions, we can help. At Loewen Group, our goal is to decrease the amount of interest you are paying, so you are giving less money to the banks, and increasing your cash flow. This means in 2016 you could have less debt and more money in your pocket where it belongs.
How are we able to help? If you are a homeowner, your home is your largest asset and refinancing can benefit you by consolidating your debt and increasing the money you have available each month at no cost you.
If you aren’t sure what a refinance process looks like then we have explained and simplified here for you.
How can we offer FREE refinancing? We have established relationships with lenders across the country, negotiating this exclusive deal and have resulted in what we believe to be the best home refinance loan experience in Canada.
At your bank or with another broker, typical refinancing fees would be around $1700, but right now we can do this at no cost to you.
What costs are covered:
Discharge / transfer fee from existing lender: $400 – You pay $0
Lawyer fees: $1000 – You pay $0
Appraisal: $300 – You pay $0
That’s $1,700 in fees avoided – and NO we have not built these fees into the interest rate to cover the costs.
Right now refinancing doesn’t cost you anything, but how exactly can it help you?
Take the example of Mr. Smith. Before refinancing he had a monthly mortgage payment of $1200, a car payment of $400, a credit card interest payment of $350 and a line of credit payment of $100(interest only so isn’t being paid down further). It cost him $2050 a month with four different payments and varying interest rates. After refinancing, he has one payment of $1750 a month, has his credit card and line of credit debt paid off and has $300 of extra money in his pocket. Mr. Smith is putting the extra cash toward his RRSP and can now retire earlier.
The fine print: We are still bound by refinancing & our lenders rules and can only go up to 80% loan to value on your home (meaning that we can only refinance up to 80% of your home’s appraised value). If there is a breakage fee or penalty charge for breaking your existing mortgage early you will be responsible for this amount BUT we can roll it into your new mortgage so it doesn’t come out of your pocket.