Thursday, July 1, 2010
Whether you're looking to buy a new home or refinance your current residence, working with the right company for your Vancouver mortgage can save you thousands of dollars in interest as well as provide you with access to the equity in your home that you can use for anything you choose. A mortgage company offers benefits that a bank may not provide. For instance, a mortgage company takes your personal situation into consideration, whereas a bank uses a credit score to base their decision.
Mortgage companies may also be able to offer better interest rates than a bank due to the fact that they take your entire credit history into consideration including your job history and additional sources of income. Refinancing to a lower interest rate might not sound like something you want to deal with, but when you take the time to sit down and look at the figures, it could add up to a substantial savings. If you have equity in your home and need cash now, this is the perfect time to refinance your home and use some of your money. It's your money, and you can use it to pay bills, remodel your home, take a vacation, or whatever your heart desires!
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