Canada Mortgage Renewal
Renewing your mortgage in Canada is as important a financial decision as selecting your first mortgage. While renewing your Canad mortgage renewal, you are usually in a stronger financial position as compared to where you were before. Your home equity grows over a period of time and by decreasing your principal mortgage loan balance, you are in a good position to negotiate.
At the time of your Canada mortgage renewal, banks tend to take advantage of your busy schedule and ask you to sign off on a mortgage renewal form indicating their posted rates with little to no discount. Many individuals simply sign their existing lender’s mortgage renewal form without trying to get a good deal on the new mortgage. This results in a higher rate and a mortgage package that does not cater to your individual needs.
In getting your first mortgage, you most likely researched various lenders, asked questions and consulted with a Canada mortgage broker. Renewing your mortgage should be no different. With the help and guidance of me, you could get the most out of your Canada mortgage renewal. This will allow you to pay off existing debts, clear high-interest credit card bills, access extra funds renovate your home or simply get the best mortgage rate available.