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When Is A Good Time To Refinance?

When is a Good Time to Refinance?

Time to Refinance

When it comes time to make changes to your mortgage, there are many reasons why doing a refinance can be the right financial option for you and your wallet. Here at Centum Home Lenders, we say the time to refinance is NOW, and here’s why:

Better Rate

With interest rates on the rise right now, more Canadians are wanting the security of having the lowest possible interest rate on the market. As an unbiased mortgage professional, we work on your behalf to ensure you have the most cost-effective mortgage.  This means we will calculate the costs of your current mortgage penalty. Furthermore, compare this to the interest you could be saving with a new lower rate.  If the numbers make sense, we will be saving you money on your mortgage!


Home Equity Line of Credit – This type of mortgage is perfect for individuals who like a flexible mortgage, and access to a large number of funds on demand. With a HELOC, you have the ability to unlock up to 65% home equity.  This can really help for those homeowners who are wanting to do that long-overdue renovation. As well, this could also assist with a child’s post-secondary education.  Although a HELOC is a fantastic mortgage option, it does come with a slightly higher interest rate to enjoy that flexibility.

Rental Property

Invest, invest, invest! This is my strong recommendation for all homeowners, grow an empire!  We can plan to withdraw funds from your current primary residence with the purpose to purchase a rental property if the numbers make sense.  Rental properties require a higher down payment than if you are purchasing your principal residence.

Although owning a rental property has some challenges, you gain the benefit of having equity building on another property. Additionally, if you continue obtaining more investment properties over the course of years, your equity would be growing in each property, in turn increasing your retirement fund!


Whether you are unlocking the equity of your home or need to get rid of that high-interest-rate mortgage, there is no better time than right now to refinance your home. As unbiased mortgage professionals, we’ll calculate the costs and obtain the lowest rate mortgage possible on your behalf.  Give us a call, your mortgage is here.

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