Natasha Shaw

How Do They Work?

When it comes time to renew your mortgage with your bank or current mortgage lender, DON'T just sign the renewal notice, like so many mortgage consumers do.  Banks rely on you re-signing without doing any research – which means they likely aren’t giving you the best deal possible.

That’s where your Mortgage Professional comes in.  We are able to find you the best possible rate and mortgage product for your mortgage renewal, saving you the trouble of fighting with your bank to get the rate that you deserve.

How can your Mortgage Professional help you renew your mortgage?
It should be noted that most institutions send renewal notices approximately 30 days prior to renewal.  We are able start protecting rates up to 120 days prior to renewal. It is very important for you to know that our role is not just about the renewal, but more of an opportunity to discuss your situation and present mortgage options to you.

How does mortgage renewal work?
Many lenders now offer “switch” programs, where they cover the costs of appraisals and the legal fees involved with the renewal process.  You will most often get a lower interest rate and better terms than your current lender is offering by switching to a new lender at renewal.

Remember, most financial institutions offer you a great deal when you first sign up for a mortgage, and then try to earn higher profits at renewal because they know that most people don’t bother to look around for a better deal.

If your Mortgage Professional can’t beat your bank or current mortgage holder, we’ll let you know right away, so that you always get the best deal.  We’re here to make sure your best interests are taken care of.

If your renewal date is coming up in the near future or even as far out as 4-6 months, ask your Mortgage Professional for a 'Cost Benefit Analysis' to assist you in making the most informed decision.

REMEMBER: It is never too early to contact your Mortgage Professional to discuss strategies for renewing, refinancing, or purchasing.  Being informed and prepared will help with achieving financial wealth! 

Are you approaching term?  Need to know your options?  Contact me anytime at 1-888-378-2821 or via email mtg@natashashaw.com.

More Articles of Interest: 

• Renewing Your Mortgage? Who do you sign with?
• Why Refinance your Mortgage?
• What is a Cost-Benefit Analysis?