MORTGAGE RENEWAL

Is it time to renew your mortgage?

If your mortgage is up for renewal soon you should take the time to meet with or get in touch with a professional mortgage broker to start looking at all the options you have available to you. At the time of mortgage renewal it is a great opportunity to assess if your mortgage needs have changed and decide what you want your new mortgage structure to look like going forward.

At the end of your term your existing lender will offer you a moderate discount over the “posted rates” and all you have to do in most circumstances is sign a letter you receive by mail. Sounds easy and painless, but you may have just lost thousands of dollars over the new term of your mortgage.

Always shop around and check the terms before you sign. Is your mortgage up for renewal soon? Let’s discuss your options.

Your federally regulated financial institution might have already sent a Renewal Statement (should be sent before the end of the existing mortgage term) and should include: The balance or remaining principal at the renewal date, the interest rate, the payment frequency, the term, any charges or fees that apply etc.

You might receive a mortgage renewal contract at the same time as a renewal statement.

But are you getting the best mortgage? Contact a Canadian Tailored Mortgage Solutions now, our brokers are ready to go over the renewal contract, negotiate and tailor your mortgage to fit your need.

Get a mortgage today! Serving Pickering, Ajax, Whitby, the rest of the Durham region, the GTA and surrounding areas.