On July 31, 2012, Firstline Mortgages no longer accepted new mortgage applications in Canada. For borrowers with a Firstline Mortgage there was no change in the status of your loan, however many of customers with Firstline Mortgages are now coming up for renewal and they may be wanting to refinance.
How can I benefit from refinancing my Firstline Mortgage?
If you’ve been feeling financially strapped each month making your mortgage and other monthly payments, refinancing can help to reduce payments to a more easily managed level.
Your priorities may have shifted since you first bought your home, and your cash flow needs can shift too. Things like paying for a child’s university education, planning a career change, or a major purchase may also be a reason to refinance your mortgage.
Projects such as a new kitchen or an addition can make your home more valuable, but the cost of having the work done can tie up a lot of money. We can look at all your financing options, which may include getting an additional line of credit or reducing your monthly mortgage payments so you have money on hand to finance the renovation.
Are you getting the best rates & terms from CIBC?
Since Firstline Mortgages are now administered by CIBC you may not be receiving the best terms and conditions on your mortgage for your personal situation. In a competitive mortgage environment, your good credit history can make refinancing work to your advantage. We analyze mortgage markets daily to ensure you don’t miss any money-saving opportunities.
[hr]Related: CIBC Mortgages Prepayment Class Action Lawsuit[hr]
What to find out if refinancing makes sense for you?
Simply fill out the form below and I’ll be in touch.
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