Refinancing a Mortgage in Saskatchewan

Lenders allow you to Refinance your mortgage up to 75% of your Home's Value. A high ratio mortgage insured by either CMHC or Genworth will allow home owners to refinance up to 95% of the value of their home. This program allows you to extend your mortgage to a maximum 40 year amortization. This is a great way to lower your monthly payments!

There are many reasons to refinance your mortgage. Having financing secured by real estate allows you to borrow money at the lowest possible interest rates. Because of this many people are able to take advantage of the equity in their homes to enhance their wealth, acquire assets, or simply live at a higher level such as:

* Renovation
* Purchase rental properties
* Purchase a second home or cottage
* Invest for retirement
* Vacation
* Education

Pulling equity out of your home at today's great interest rates can save you as much as 24% in interest charges! This allows people to eliminate and consolidate high interest debts such as:

* Credit cards
* Car loans
* Lines of Credit
* Personal Loans

It can also be used to escape from or avoid personal financial problems such as:

* Collections
* Bankruptcies
* Consumer Proposals