Mortgage Expert Salim Henareh Highlights Why Homeowners Should Refinance Their Mortgage Amidst High Inflation and Increasing Interest Rates

Toronto, Canada – July 11, 2022 – As the CEO of a private mortgage corporation, Salim Henareh has a sophisticated understanding of the real estate landscape. As a firm that provides clients with the financial resources for the purchase and construction of both residential and commercial properties, Salim discusses the current state of the market. According to Salim, due to high inflation and increasing interest rates, now is the time to consider refinancing your mortgage. Likewise, while lenders are becoming increasingly “risk averse” individuals who do not have perfect credit may have a difficult time qualifying for a loan.

“Even if interest rates have increased since you got your original mortgage, it’s possible that you could still qualify for a lower rate if you have good credit and equity in your home…If you can get a lower interest rate, your monthly payments will be smaller. This will give you some much-needed breathing room in your budget and help you keep up with the rising cost of living.”

Salim claims that those hoping to refinance their mortgage will need to find a new lender. Before starting the application process he encourages homeowners to shop around and take the time to compare rates. He also states that those with a higher credit score will have an easier time refinancing their mortgage.

“If you refinance into a 30-year loan, you’ll have lower monthly payments than if you had chosen a 15-year loan…Lastly, refinancing can be an excellent way to consolidate debt. If you have multiple debts with high-interest rates, you can roll them all into one loan with a lower interest rate. This can help you save money and get out of debt faster.”

Having been in the industry for over thirty years, Salim encourages individuals to perform extensive research before making any final decisions. Those interested in reading the full article can do so on

About Salim Henareh:

Salim Henareh is the CEO of a private mortgage firm based out of Toronto, Canada. With experience in business marketing, sales management, financial and business analytics and real estate acquisition and development, he uses his expertise to help clients obtain the financial resources they need to invest in commercial and residential properties.

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Company Name: Lenders For Growth
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Country: Canada