✨Renewals ✨
• A renewal is a process at the end of your term, in which you renegotiate a new mortgage term based on current rates.
- For example if you are currently on a five year fixed term, at the the end of those five years, it is time to renew your mortgage and renegotiate your new rate.
• Your current lender will typically send you an email or letter in the mail with your new proposed mortgage rate 3-6 months prior to you renewal, BUT did you know you’re not obligated to stay?
• That’s right, during the renewal process, you’re free to shop around for an even better rate! You’re able to pull equity out of your home without penalty, renegotiate a new policy and rate, or switch lenders.
• With access to over 55+ lenders, we’re able to select the best deal available, whether that is with your current lender or not. Speaking to a mortgage agent during your renewal could save you thousands of dollars during your next term, and the best part? It won’t cost you anything!
If your renewal is coming up within the next six months, let’s chat about savings! 💰
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