Avoid higher rates — avoid unsuitable products and terms — don’t be part of the masses! Mortgage coming up for renewal. Don’t be too hasty in just signing the form and sending it back to the lender. Over 90% of mortgage holders do just that, and the usual result is — a higher rate and a mortgage product that might not be best suited to their interests. Let the best mortgage broker in Edmonton do all the work for you — we will find you the best possible rate and product to suit your interests.
You want to renew/switch your mortgage to another lender who will most often give you a better rate. Most lenders now offer “no cost or low cost switches” and it’s a smart way to reduce your interest costs. We can take care of all the details for you and help you negotiate with your existing lender or find a new lender who will give you very competitive rates. Get me working for you today. Take advantage of our renewal registry! Register now and I will guarantee you the best rate 120 days prior to your renewal. You can register up to four years in advance – just fill out the form below.
Mortgage renewal is when you sign a new mortgage contract with your lender, typically at a higher interest rate, to continue paying off your home.
If you’re happy with your current lender, you may want to consider renewing your mortgage with them. This can be a good option if you have built up equity in your home and you’re looking to refinance to a lower interest rate.
If you’re not happy with your current lender, you may want to shop around for a new one. This can be a good option if you’re not happy with the interest rate you’re currently paying or if you’re looking for a different type of mortgage product.
When you’re shopping around for a new mortgage, it’s important to compare interest rates, fees, and features of different products. It’s also important to make sure you’re getting a mortgage that’s right for your personal situation.
If you’re wondering how long before mortgage renewal, the answer is typically around 120 days. However, this can vary depending on your lender and your particular situation. It’s a good idea to start thinking about renewal a few months before your mortgage is up, so that you can compare rates and terms and get the best deal possible.
Your mortgage is up for renewal and you’ve been denied. Now what?
It can be disheartening and scary to be denied a mortgage renewal, especially if you’ve been a good customer. But don’t despair – there are a few things you can do.
First, find out why you were denied. There could be a number of reasons, such as a change in your credit score or employment status. If it’s something that can be easily fixed, like updating your information, then do so and reapply.
If the reason is more serious, like a bankruptcy or foreclosure, then you’ll need to take a different approach. You may need to wait a certain number of years before you can reapply, or you may need to find a new lender who is willing to work with you.
In the meantime, make sure to keep up with your mortgage payments. If you miss even one payment, it will only make it harder to get approved for a renewal down the road.
If you’re denied a mortgage renewal, don’t give up. There are still options available to you. With a little bit of work, you should be able to get the financing you need.