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Posted by Lavinia Woodburn, Mortgage Agent on 03/24/2016

Mortgage Renewals

Mortgage Renewals

At renewal time, your lender will send you out a letter showing you what they are offering you.  In most cases, people simply select a term and the rate offered with it, sign it, and send it back.  In fact, most homeowners never consider the fact that they can actually re-negotiate everything pertaining to your mortgage such as the amortization, rate, term, etc. and with no penalties.

Mortgage renewal is also an important time to decide if you should roll your high-interest credit cards and other debt into your mortgage to get one lower payment, boost your cash flow, and save on interest costs.  Or perhaps it's a good time to take some equity out for renovations, a second property or for investing.

When you are six months from renewal, be sure to contact us so we can review all of your options and strategies, not just those presented to you by your current lender.  We work for you and not the lenders, so we compare all lender options to make sure you get the best deal with the terms that best suit you.  


Our team of experts look forward to helping you achieve your real estate and mortgage financing goals!  For more information, contact The Mortgage Queen at 647-899-7377 or email us at info@MortgageQueen.ca


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