There are many benefits of having built up equity in your home that you can access upon a mortgage refinance.
This also known as equity take out. Here are some examples of how home owners have used this mortgage opportunity.
- Pay off high interest credit cards
- You want just one monthly payment instead of several
- Free up money for a home renovation
- Free up money to purchase a cottage or rental property
- Spousal buyouts in the event of a divorce
- Use equity for investments
- Reverse mortgages for home owners aged 55+
Why Refinance Your Investment Property
- Lower your monthly mortgage payment
- Maximize your return on investment
- Use the equity in your investment property to buy additional properties
- Use the equity to fund other investment opportunities