Shopping for a Mortgage Renewal?
While most Canadians spend a lot of time, and effort, in shopping for an initial mortgage. The same is generally not the case when looking at mortgage renewal.
At the end of your mortgage term, as long as you still owe a balance. You will need to renew your mortgage for another term. And with each mortgage renewal comes the opportunity to assess your current mortgage, and compare it to any new financial goals you may have.
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 the best mortgage rate. This is usually a costly mistake as most banks, credit unions and trust companies will not offer you their best rate at renewal time. We can track the rates on the market and find you the lowest rates with the best pre-payment privileges.
Mortgage Renewal Process
Your mortgage is one of your biggest expenses and decisions. Because of this it’s imperative to find the best interest rates and mortgage terms you can. By shopping around you can save substantial amounts of money over the life of your mortgage.
Call a Sunlite Mortgage agent today at 1.877.38LOANS and we will be happy to help you find the mortgage lender with the best mortgage rate for you.