So, what a great day it is today ! Three clients this week are now pursuing the dreams they have had, by setting up a first mortgage and a line of credit behind that mortgage.

Many people are in high-interest mortgages, compared to the record lows Canada is currently enjoying. Switching your current mortgage generally is at no cost to you, except for possible penalties to the lender. Often the penalty charges are evened out by the money saved in having a lower interest mortgage.

Putting a line of credit behind the mortgage gives you money to use when you need it - you do not pay any interest until you use that money.

So, for the dreams - one client is building his own new home with the line of credit and the extra monthly cash he has because the lower interest rate has saved him over $500 a month in mortgage payments
- another client is able to have a barn built for their horses so they don't have to board them at a remote location
- another client now has the available money to pay for both of their children to go to university this year and next

Please send me an email - dhagerman@mortgagealliance.com, or give me a quick call at 613.290.4043.