Your Home is an investment
Ron and Candace’s family of four was rapidly outgrowing their home. They were trying to decide between another renovation on their existing property or upgrading to a newer, larger house. A friend referred them to Auxilium to find out what they could afford.
Considering the Options
Our team sat down with Ron and Candace to look at three possible scenarios:
- Refinancing their current mortgage to fund the renovation.
- Selling their home and buying a new one.
- Buying a new home and keeping their existing property as a rental.
With solid income and strong credit, Ron and Candace pre-qualified for any of these options. After looking at properties through the summer in a hot real estate market, they ultimately decided to leverage the equity in their home and move forward with an extensive renovation that would add the functional space their family needed. We were able to secure a refinance for them that included a line of credit so that they could access the funds as required for the renovation.
Staying in Touch
The Auxilium team stayed in touch with Ron and Candace throughout the year of their renovation, as they had wanted to revisit their mortgage once the work was complete, and the new value of the home could be assessed. As can happen with any renovation project, the work went slightly over-budget and Ron and Candace ended up having to borrow a bit from family to pay the contractor’s final bills. However, the upgrades to their home increased its value by approximately 25% PLUS their growing family finally had the space they needed. Rolling in the extra construction bills, we were able to secure a variable rate mortgage for Ron and Candace so they could simply enjoy life in their home.
But Wait, There’s More
One of the things that makes the Auxilium team unique is our client follow-up. So when we realized that a product was available that would lower Ro
n and Candace’s rate by half a percent, we reached out to them with the opportunity. Now even more of each mortgage payment goes towards the principal amount, Ron and Candace are building equity in the property, and most important their family is living in their perfect home.
At the end of a two-year journey, Candace says, “Kam contacts us when there’s an opportunity to save us money, and he’s done exactly that. We’ll never go back to a bank now that we’ve seen what a guy like Kam can do for us.”
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