When your mortgage term comes to an end, you have the option to renew your mortgage with your current lender or switch to a new lender. As a mortgage agent, I can help you understand your options and find the best solution for your unique needs.
Renewing your mortgage is an important decision that can have a big impact on your finances. That’s why it’s essential to shop around and find the best mortgage product and rate for your needs. Here are some things to consider when renewing your mortgage:
- Start early: It’s important to start shopping for a new mortgage several months before your current term ends. This gives you enough time to compare rates and products and find the best one for your needs.
- Consider your goals: Are you looking to lower your monthly payments, pay off your mortgage faster, or access equity for renovations or other expenses? Your goals will influence the type of mortgage product you choose.
- Negotiate with your lender: When your mortgage term ends, your lender will likely offer you a renewal agreement. However, you don’t have to accept their offer. You can negotiate with your lender or switch to a new lender to get a better deal.
As your mortgage advisor, I can help you navigate the mortgage renewal process and find the best solution for your needs. I have access to a wide range of mortgage products and can help you compare rates and features to find the best one for you. Contact me today to learn more about renewing your mortgage and get the best deal possible.
Bruce L. March 2023