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Jim Cook
MBA, CMA, AMP
Mortgage Broker
519.396.6800
1-877-587-6800
james.cook@migroup.ca
819 Queen St., Kincardine
MBA, CMA, AMP
Mortgage Broker
519.396.6800
1-877-587-6800
james.cook@migroup.ca
819 Queen St., Kincardine
MyMortgagePlace.ca
the Broker Advantage?
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Tony Antaya
AMP
Mortgage Agent
905.689.3213
tony.antaya@migroup.ca
138 Brian Boulevard, Waterdown
AMP
Mortgage Agent
905.689.3213
tony.antaya@migroup.ca
138 Brian Boulevard, Waterdown
Registered trademark of Mortgage Intelligence Inc. 2009, Mortgage Intelligence Central Office 5770 Hurontario Street, Suite 600, Mississauga, ON L5R 3G5
Jim Cook Broker Lic. M08001302 Tony Antaya Agent Lic. M08001243
Jim Cook Broker Lic. M08001302 Tony Antaya Agent Lic. M08001243
The MyMortgagePlace team has locations in Kincardine and Waterdown serving Bruce County, the QEW Corridor and all of Ontario.
Sasha Berry
Office Administrator,
Kincardine
519.396.6800
sasha.berry@migroup.ca
819 Queen St., Kincardine
Office Administrator,
Kincardine
519.396.6800
sasha.berry@migroup.ca
819 Queen St., Kincardine
Managing Your Debt
In 2006, CMHC reported that 71% of all mortgage consumers refinanced before their mortgage term was up. Of those who refinanced, 29% did so to consolidate debt.
It's easy to see why. While credit card interest rates currently range from 10-20%, consolidating that debt into your mortgage can cut your interest costs in half and significantly improve your monthly cash flow!
The biggest question is whether you have equity in your home that would allow you to consolidate those debts.
To explore the benefits of debt consolidation, contact us today. We can do a quick analysis of your situation and show you a plan that highlights both the costs and bottom line benefits of consolidating your debt.
Obviously, the most attractive time to refinance is when your mortgage is coming due or you're selling one house and buying another. But depending on your situation, your interest savings can more than pay for any fees involved.
In many cases, debt consolidation not only reduces interest costs, it can also help put you back on the road to achieving your financial goals. Many clients' newly consolidated monthly payments are so much lower, they're able to start an investment plan for retirement or children's education.
Check out an example below - saves that client $781 a month - and then call us to explore your options.
It's easy to see why. While credit card interest rates currently range from 10-20%, consolidating that debt into your mortgage can cut your interest costs in half and significantly improve your monthly cash flow!
The biggest question is whether you have equity in your home that would allow you to consolidate those debts.
To explore the benefits of debt consolidation, contact us today. We can do a quick analysis of your situation and show you a plan that highlights both the costs and bottom line benefits of consolidating your debt.
Obviously, the most attractive time to refinance is when your mortgage is coming due or you're selling one house and buying another. But depending on your situation, your interest savings can more than pay for any fees involved.
In many cases, debt consolidation not only reduces interest costs, it can also help put you back on the road to achieving your financial goals. Many clients' newly consolidated monthly payments are so much lower, they're able to start an investment plan for retirement or children's education.
Check out an example below - saves that client $781 a month - and then call us to explore your options.
Sample Scenario
Mortgage (at 6% interest)
Unsecured Line of Credit (at 8% interest)
Credit Cards (at 18% interest)
Penalty to break mortgage
Total
Mortgage (at 6% interest)
Unsecured Line of Credit (at 8% interest)
Credit Cards (at 18% interest)
Penalty to break mortgage
Total
*25 year amortization, monthly payments, Rate subject to change, OAC.
Before Consolidating
Balance Payment
$ 160,000 $ 931
$ 18,000 $ 540
$ 15,000 $ 450
$ 3,000 $ 0
$ 196,000 $ 1,921
Balance Payment
$ 160,000 $ 931
$ 18,000 $ 540
$ 15,000 $ 450
$ 3,000 $ 0
$ 196,000 $ 1,921
After Consolidating
Balance Payment
$ 196,000 $ 1,140
$ 0 $ 0
$ 0 $ 0
$ 0 $ 0
$ 196,000 $ 1,140
Balance Payment
$ 196,000 $ 1,140
$ 0 $ 0
$ 0 $ 0
$ 0 $ 0
$ 196,000 $ 1,140
