Renewing Your Mortgage

Renewing Your Mortgage

When it’s time to renew the mortgage, many borrowers just sign the renewal notice they receive in the mail. Unfortunately, this may not add up to the best mortgage rate possible. In fact, if you’re getting high-pressure tactics from your lender on a mortgage renewal, it’s because many banks hope that you won’t do much research, and will just sign on the dotted line instead. Don’t do it! Renewing your mortgage is just as important as securing it in the first place. Here’s how we can help.

Better Mortgage Rates
Did you know that when you renew your mortgage you are actually in a position to negotiate a better rate? As the principal of your mortgage decreases and your home equity grows, this puts you on more solid financial footing, making you a lower risk to the bank. This is why the first and best reason to shop around when it comes time to renew your mortgage is to get a better rate. The lower your mortgage rate, the less you’ll spend on the purchase of your home. This often means thousands of dollars of savings over the course of the loan. Vancouver Mortgage Brokers are connected with more than 70 lending institutions, including local banks, trust companies and credit unions. They've built relationships that allow us to negotiate highly competitive rates for our clients.

Shopping around for a lower mortgage rate pays. When it’s time to renew your mortgage, let us take on the challenge of getting you the best rate the market will allow. After all, what do you have to lose?

Personalized Service
Chances are you signed your last mortgage papers years ago. Things have changed. We can help create a personalized loan that fits your financial needs today. Whether you’re looking to renovate, open your own business, pay down high-interest debt or start a family, we can ensure that you have a loan that’ll help you get there. Plus, we don’t see your loan as a transaction – we see it as a relationship, which is why we’ll be there to provide friendly service and advice until the day your home is paid off.

Mortgage Insurance Transfers
Many mortgage insurance policies are non-transferable. We can arrange for transferable mortgage insurance, so you can transfer your mortgage to another institution at any time without having to re-qualify for a new insurance policy.

More Home Loan Options
Did you know that your mortgage can be tax deductible? Chances are there are a lot more options for your renewed mortgage than you’re even aware of. Ask us and let us show you how you can get better rates, pay down your mortgage faster and use your mortgage to help increase your net worth over time.

Before renewing with your current lender, give us a call.  We can connect you with mortgage brokers that have more options and personalized service.