Mortgage Renewal

Mortgage Broker in Vernon, BC

Now that you’re in the last year of your mortgage, you’ll likely be receiving a letter from your existing lender to renew. Should you just sign it back? No way. Let us show you how to get the most out of your renewal.

Your How to Guide to Renewing your Mortgage

    • Remember, You're in the Driver's Seat

    You’ve got a track record as an owner, and lenders will want your business and will compete for it. That’s where a mortgage broker can really help. Your first step is to connect with us. With low interest rates and a growing selection of innovative mortgage solutions, you could potentially save thousands by shopping around.

    • Comparison Shop

    Our independent Mortgage Brokers know what’s going on in the marketplace, and can connect with over 50 lenders to find the best the best interest rate and options for your renewal. After all, a lower rate can save you big time in costs over the life of your new mortgage.

    • Do the Math

    You’ll be offered a number of loan options, so discuss them with your Mortgage Broker and choose one that best suits your needs. Over and above considering the lowest rate, discuss whether a fixed or adjustable rate is better for your situation.

    • Ask for More

    There will be a few fees and costs associated with this process, such as legal and administrative costs for transferring the mortgage, as well as a mortgage discharge fee. Your Mortgage Broker can ask to have these costs absorbed – it’s worth asking because it’s competitive out there.

    • Sit Back and Relax

    That’s it. Once your renewal is completed you can sit back and give yourself a pat on the back (and your Mortgage Broker too).

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