When your mortgage term comes due, it is now open for renewal. You are now open to negotiate a new term and a new interest rate for your mortgage. The problem is that many homeowners accept the renewal rate their current mortgage lender sends them in the mail, and typically this offer is not the maximum discounted interest rate. Many homeowners trust that their bank or credit union will offer them the best deal and don’t bother compare it against their competitors.
The bottom line is that renewing your mortgage is something that takes time, time that you may not have due to a busy schedule. This is where a Mortgage Professional comes into play. Mortgage renewals are an important part of my business, saving clients money by aggressively shopping the market for the lowest and sharpest rate possible. Being that your mortgage is up for renewal, there are no fees or penalties involved in switching to another Lender who may be offering you better terms. So why accept what your Mortgage Lender is offering you if there is a better deal elsewhere?
I am able to hold rates 90 to 120 days before your renewal, which means you are not scrambling to decide. Your needs may have changed since obtaining your mortgage, there might be more options available, better terms, my approach is to understand your current needs and matching those to what is available in the marketplace. Simply contact me using the 2 Minute Application or by phone.