Mortgage Renewals

Most homeowners stay with their existing mortgage lender because they believe it is too time consuming to get a better mortgage rate.

Mortgage renewal coming up? This is a great time to review your financial situation. Whether you are going to switch lenders, refinance to consolidate debt, access extra funds, extend your amortization period or renew with your current lender, you should take the time to review your options. Your maturity date allows you to make changes to your mortgage without incurring a pre-payment penalty.

Options available to you:

Switch lenders: keep the mortgage details the same and switch to a lender that is offering you the best rate and terms for your mortgage.

Refinance: this would allow you to basically start from scratch. You can access extra funds for personal use or to consolidate debt or extend your amortization to lower your payments. Consolidating high interest debt or extending your amortization can lower your overall payments dramatically

Renew with current lender: while this is probably the easiest route it is rarely the best. It is recommended that you review options before doing this

I would be happy to prepare a Mortgage Analyzer Report for you. This report will show potential interest savings and cash flow improvements during the term of the mortgage. This report is especially useful when consolidating debt or determining if it is better to renew or to refinance.
Click here to see a sample report.

Set up a time with me using Calendly to discuss your situation and your goals.