Is your mortgage coming up for renewal? Don’t be too quick to sign that mortgage renewal letter.
Over 70% of Canadian mortgage holders do just that, and what is the usual result? — a higher rate and a mortgage product that might not be best suited to their needs. Experience has shown that the “Big Banks” send their mortgage renewals out at a posted rate. Lenders are counting on the fact that most homeowners are too busy to ask questions or to inquire about getting a better rate, but don’t let this happen to you!
You should recognize that you are now negotiating from a position of strength as your mortgage principal has dropped and in most cases your home value has increased. Lenders see you as a lower risk borrower and consequently you should be getting the best rates available. That may not happen if you simply sign the renewal document provided by your existing lender.
Why not let lenders compete for your business, so you get the best mortgage possible? For my FREE Guide titled, “13 things you need to know before you renew your mortgage”, call me or email me!
Let me help you get the best rate and terms available. I can even guarantee future interest rates up to 120 days before your renewal date! My purpose is Helping You save your hard earned money so you get mortgage free sooner!
Karen Boies Mortgage Planner Dominion Lending Centres – City Wide Mortgage Services 604-726-9550 Karen@citywidemortgage.ca