Renewing your Mortgage

Your mortgage could be a "goldmine" of potential savings

It's a fact. Although a mortgage is one of their most important financial decisions, many Canadians don't put as much thought into renewing their mortgage as they should. We, however, see your mortgage renewal as a unique opportunity to make sure it reflects your current needs.

Are you considering paying off your high-interest credit card debt or loans, or are you interested in financing a home renovation, dream vacation, recreational or investment property? At renewal, a mortgage agent can give you rate protection for up to four months.  Furthermore, we can help you secure the best rate and possible options for whatever your mortgage needs may be.

Did you know that most institutions do not offer their best rates come renewal time?  Using the approach of simple convenience, many banks send a letter within 30 days of your maturity date asking you to choose your renewal term and then either mail or fax back with your signatures.

Seems easy, right?  That's just it... Have a mortgage agent negotiate and shop the market for you.  It is not uncommon for those renewal letters you receive in the mail to be 1-2% higher than what a mortgage agent can attain for you.

A 2% rate difference on a $200 000 mortgage can mean as much as $20 000 in interest over 5 years....

Fixed or Variable Rate?