“The best and most beautiful things in the world cannot be seen or even touched~ they must be felt with the heart”~ Helen Keller
Re-financing, refers to the process of revising and replacing the terms of an existing contract or agreement, such as a loan or a mortgage. When you decide to refinance a current or existing mortgage , you are really searching to make some favorable changes to the details of the mortgage such as the payment schedule, the interest rate, or any terms of the contract. You may want to review term, which is when the mortgage will be up for renewal. Or you may want to review the amortization period which is the length of time that the loan amount is amortized, or calculated I guess you could say. So a 10 year amortization period would be more expensive per month in premiums than say 25 -35 year amortization period. Why, because the loan will be paid off in full in that amortization period. So, the less time you have to pay it off is more in premiums. The more time, as 25 years would be less in premiums.
Now, our Podcast Show this week is an interview with Jenna Schofield from Jennajademortgages.com with Dominion Lending. You won’t want to miss the great tips and tricks that Jenna offered especially during these trying times! Enjoy!
It puts your life in 1-place in preparation of any unpredictable circumstance while taking the painful aftermath out of any tragedy! Whether you are a senior, retired, single, or have a family you will want to get this APP for yourself to be more organized!
www.yourbackupplan.ca
JENNA SCHOFIELD, Mortgage Broker
778-889-9165
Jenna.jade@blancalending.com
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IG: jennajademortgages
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