Getting Ready to Renew Your Mortgage?
The decision to renew your mortgage is as important as when you first purchased your home.
Your term is your contract with the lender, and when that term is finished, you have the choice to leave at that time or stay (renew) with that lender. Over the years, lenders have learned that the public, in general, will take what they are given, so they send out the renewal a month or so prior to your maturity date and offer posted rates. So your first question should be, why should I accept posted rates, and why should I have to wait until a month before my renewal date?
Don’t sign your mortgage renewal until you consider ALL your options!
That’s where I step in. My job is to make sure that you get the best rate and mortgage product for your needs. Four months prior to your maturity date, I can review your existing mortgage and offer discounted mortgage rates, and hold them until your maturity date. If rates go down, you will get the lower rate, and if rates go up, your rate is protected. You have nothing to lose, and everything to gain.
No Fee Transfer
I offer what is called a “No Fee Transfer”, where a new lender will pay the legal and appraisal costs to have your existing mortgage assigned to them on your maturity date. You get very competitive rates, held up to a 120 days out (180 days if necessary) from your maturity date. I’ll ensure that you will have a mortgage with great terms and privileges as you had before and of course a lender with good customer service. The only thing that will change is who your mortgage payments are made too, none of your existing personal banking has to change. A simple transition from one lender to another, with the new lender paying the transfer costs.
Mortgage Renewal Reminder
I also offer a free mortgage renewal “reminder”. Provide me with your name, and email address, and the maturity date of your existing mortgage, and I will bookmark four months in advance of your renewal (you also should do the same), to drop you a line and let you know where rates are at. It costs you nothing, and there is no obligation to proceed further with me.
I believe the more you know and understand about mortgages, the less worry you will have.