Mortgage Renewal
Shop for a Renewal to get your best rate !
While most Canadians spend a lot of time, and expend a lot of effort, in shopping for an initial mortgage, the same is generally not the case when
looking at mortgage term renewals. By omitting proper consideration at the time of renewal, this practice costs Canadian citizens thousands of extra
dollars every year. Nearly 60% of borrowers simply sign and send back their renewal that is first offered to them by their lender without ever shopping
around for a more favourable interest rate.
Homeowners should never accept the first rate offer from their existing lender. Without any negotiation, simply signing up for the market rate on a
renewal is unnecessarily costing the homeowner a lot of money on their mortgage.
Generally it is a good idea to start shopping for a new term between four and six months before your current mortgage term expires. Many lenders
send out your renewal letter very close to the time that your term expires and this does not give you ample time to arrange for a mortgage term
through a different lender. This means that you need to be tracking your own mortgage term timeframe and know when it is time to start shopping for
a good mortgage renewal rate.
Before you decide to accept a renewal offer from your current mortgage lender you should have a licensed mortgage professional shop around for
you, you will be amazed at what they can accomplish on your behalf.
Your mortgage is one of your biggest expenses. For this reason it is imperative to find the best interest rates and mortgage terms you possibly can.
By shopping around at renewal time you can save substantial amounts of money over the life of your mortgage loan. Don't be one of the 60% who just
simply sign their renewal letter and send it back. Use the services of a license BTB Mortgage Solutions mortgage professional to ensure the lenders
compete for your business.
Shop for a Renewal to get your best rate !
While most Canadians spend a lot of time, and expend a lot of effort, in shopping for an initial mortgage, the same is generally not the case when
looking at mortgage term renewals. By omitting proper consideration at the time of renewal, this practice costs Canadian citizens thousands of extra
dollars every year. Nearly 60% of borrowers simply sign and send back their renewal that is first offered to them by their lender without ever shopping
around for a more favourable interest rate.
Homeowners should never accept the first rate offer from their existing lender. Without any negotiation, simply signing up for the market rate on a
renewal is unnecessarily costing the homeowner a lot of money on their mortgage.
Generally it is a good idea to start shopping for a new term between four and six months before your current mortgage term expires. Many lenders
send out your renewal letter very close to the time that your term expires and this does not give you ample time to arrange for a mortgage term
through a different lender. This means that you need to be tracking your own mortgage term timeframe and know when it is time to start shopping for
a good mortgage renewal rate.
Before you decide to accept a renewal offer from your current mortgage lender you should have a licensed mortgage professional shop around for
you, you will be amazed at what they can accomplish on your behalf.
Your mortgage is one of your biggest expenses. For this reason it is imperative to find the best interest rates and mortgage terms you possibly can.
By shopping around at renewal time you can save substantial amounts of money over the life of your mortgage loan. Don't be one of the 60% who just
simply sign their renewal letter and send it back. Use the services of a license BTB Mortgage Solutions mortgage professional to ensure the lenders
compete for your business.
Mortgage Renewal
