Interfinance Mortgage Corporation is here to help you evaluate your financial situation ensuring that refinancing is done with smart financial planning in mind. By textbook standards you should not refinance unless mortgage interest rates drop by 2%, however life is not cookie cutter and the mortgage industry is no different.
The 2% rule is simply the reduction that works best for most people that is why it is often seen as law. However as a home owner if you consider keeping your home for many years a deduction of 1.5% or even 1% can make sense simply because you will have time to recoup the cost of refinancing and also save with the lower rate.
Let us help you
Interfinance Mortgage Corporation can help to ensure that when you refinance the cost of your refinance will be covered though your interest savings over the next 2 years or less.