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The current Mortgage financing is replaced with new financing. Mortgage refinance is becoming a popular financial remedy, there are a number of reasons why borrowers may decide to refinance, especially for those who are burdened by large monthly installments or multiple debts. Mortgage refinance can prove beneficial in several ways:
  • Replace an Adjustable Rate Mortgage into a Fixed Rate Mortgage
    The interest rates on an adjustable rate mortgage (ARM) might be low initially, but the constant variations in the interest rate is unpredictable. Many people prefer to replace it into Fixed rate Mortgage, so that they can have the knowledge of exact amount of payment over the term of mortgage.
  • Blanket Mortgage ( Consolidating multiple mortgages into one)Blanket Mortgage is a single Mortgage registered against two or more properties. Because paying the installments of two or more mortgages at the same time can be a burden on some people. So blanket mortgage is the best solution in this case that is to consolidate the multiple mortgages into one, with a fixed monthly interest rate. 
  • To obtain a lower fixed rate                                                    
  • The interest rate may have dropped drastically since you took mortgage several years ago. Refinancing can replace the existing high rate mortgage with lower rate when market rates are lower.
  • Home Equity Financing                                                                  
  • It is similar to refinance your existing mortgage, the total mortgage is increased to take advantage of increased equity in a home. Since a mortgage is a secured loan and the interest applied is considerably lower as compared to an unsecured loan so home equity can be used to pay off credit card bills and other high interest loan (debts). Since mortgage interest is 100% tax deductible, you end up saving a considerable amount.
  • We at J D Mortgages will help you decide whether it is the right time for you to refinance. we help you pick the refinance solution by carefully studying the status of your current mortgage and comparing it to your income and other debts.
We will get you the most competitive mortgage refinance rates in the market. we get you the best deal possible, According to your requirements, whether it is to consolidate existing mortgages or obtain a better rate. The decision to refinance should be carefully evaluated to avoid any complications at a later stage.
With extensive knowledge of the Canadian mortgage industry, Our experienced mortgage professionals, will provide the necessary guidance that you need in making the right refinance decision.
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Saturday, February 27, 2021

* Mortgage interest rates are subject to change without notice at any time. E.&O.E., O.A.C. Although every attempt is made to ensure the accuracy of our website, the above mortgage information should only be used as a guideline. J D Mortgages recommends that you consult our mortgage broker before making a decision. If you have any mortgage related questions, speak to one of our mortgage specialists, please call 905 913 0059 or e-mail us at Note: Posted rates are for residential mortgages only. Commercial mortgage rates may be higher.

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