Mortgage Refinance $270k and HELOC for $50k in Brampton
Here is how Brampton Mortgage Broker- Rumy Gill, Helped with a Mortgage HELOC $50k and Mortgage Refinance Refinance $270k for Harry a Truck Driver from Brampton.
Harry had become sick and tired the debt he was carrying including his Truck Loan payments of $1,200 a month he was paying and wanted to find a way to get ahead. Harry tried to go to RBC Bank and get a Mortgage Refinance done, but he was declined due to an issue one store card payment.
That’s when Harry contacted me. Harry had good income of $73k a year and his credit was good overall. He just had this one bad credit situation happen to him, and it looked out of character for his credit history. So I asked Harry what happened and why he had a few missed payments on the one store credit card.
Harry told me, he had gotten a store card while making a large ticket item. The store sales person had told Harry if he got the store card he would save an additional 10% off his purchase. Harry agreed as this would save him some money on his purchase. But after a few days Harry, had a change of mind and returned the item to the store, while processing his return the store had forgotten to apply the return to the card. It was not until 2 months later that Harry got asking for payments on the credit card. That’s when Harry went back to the store and the store manager processed the refund properly and apologized to Harry, but the damage was already done.
Now that I knew the full situation, I was able to help Harry secure a Mortgage Refinance for $320k and get a $50k portion for a Mortgage HELOC for a total Mortgage of $320k, which helped with a Debt Consolidation.
Harry was able to Pay off;
His Car Loan of $18k at payments of $467/month
His $55k Truck Loan at payments of $1,200/month
His maxed out RBC Mortgage HELOC of $13k at payments of $60/month
His RBC Mortgage of $172k at payments of $841.75/month
Total Monthly Payments Harry was making was $2,568.75/month.
But now Harry is able to pay all those Debts just like before but at One Low Monthly Payment of $1,155.38! That’s more than Half of what he was paying before!
Harry was able to save $1, 413.37/month and $16, 960.44 every year! With a Simple Mortgage Refinance!
Over the course of 5 years of his Mortgage, Harry will benefit from $84, 802 in savings!
Contact Brampton Mortgage Broker – Rumy Gill, Today to get the Best Mortgage Options for your Mortgage HELOC and Mortgage Refinance Situation. Helping you find savings in your Mortgage!
Rumy Gill – Mortgage Broker
Office : 2260 Bovaird Dr. E. Unit 202A
Brampton, ON L6R 3J5
Mortgage Intelligence Inc. – Lic# 10428