Benefits of Renewing Your Existing Mortgage
Expert advice: Renewal time is an opportunity to review your current financial situation – and our goal is to make sure you select the right mortgage options for your particular circumstances. You can call us before your renewal date to talk about your interest rate preferences, your future plans (home renovations, a move, etc.) and more.
120-day early renewal option: Mortgage Lender gives the option of 120-day early renewal, which allows you to renew early without any penalties. This could save you in interest costs if rates rise before your regular renewal date.
Renewing Your Mortgage – How it Works
Renewing your mortgage is simple! Here’s how it works and a quick summary of some things you can do to make it even easier:
Start thinking about your needs and goals.
If you’re close to renewal, now is a great time to review your financial goals and your plans for the future. You might want to consider the following types of questions:
- Has your financial situation changed since your last renewal?
- Are you planning any home renovations or will you need additional funds?
- Will you be moving within the next year?
- Do you prefer fixed or variable rates, or are you unsure?