NormanLane Real Estate | 709-221-SOLD | 323 Freshwater Road St. John's NL A1B 1C3

Monthly Archives: January 2019

Variable Rate Mortgage? Switch and save $5000 or more!

Tick-tock... If you've negotiated a variable rate mortgage over the past 3-4 years, and stuck with it, you're probably in a prime minus .35-50% product. This would put you in the 3.50% range This was an excellent deal back then, but only so-so today. Timing is everything Well, we're currently seeing limited time discounts that…
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When is the right time to refinance my mortgage?

Taking out some equity from your home to pay off higher interest debts can make sense! 80% is the magic number when looking to refinance.When seeking a refinance,  the government will only allow you to pull out equity up to 80% of the value of the home.As an example:Current mortgage balance: $300,000Current value of home:…
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