Homebuyers typically put a great deal of effort into securing their first mortgage – checking out the mortgage rates, plans, terms, programs and other options that are available to them. When it comes time to secure a renewed mortgage, however, most Canadians don’t spend nearly as much time or put anywhere close to the same amount of energy into the decision. While renewing your mortgage can be a big pain, it is crucial that you put the proper level of consideration into this decision in order to avoid a costly mistake you’ll live to regret. Or, simply turn to an experienced, knowledgeable mortgage agent to put the time and effort in for you.
Facts about Canadian Mortgage Renewal
If you’re thinking about renewing your mortgage, here are a few facts you should consider:
Approximately 60% of borrowers accept the first renewal offered by their lender
If you let a take care of your mortgage rates, not only will you fine competitive rates, but it will also help save you thousands of dollars
Renew Your Mortgage with a Mortgage Innovators
Rather than overspending by thousands of dollars a year, wouldn’t you rather choose a renewal plan that benefits you financially, both now and into the future? I will help you search for the best possible mortgage renewal terms. As your mortgage agent, I will track your mortgage term timeframe and make sure you get the most competitive renewal rate possible. However, it is important to contact me as soon as you know you’re interested in looking for a new term. Experts recommend starting the process 4-6 months before your mortgage term expires.
Don’t wait for your lender to send out a renewal letter and accept the first renewal offered – contact my office and let a licensed mortgage professional do the legwork for you! You can save serious money on your new mortgage if you do.