Your mortgage term is set to mature soon and you’re not sure what to do.
Should you consider consolidating debt?
Should you lock in 1, 2, 3, 4 or 5 years?
Should you go variable?
What are the advantages/disadvantages of the variable or the fixed products?
Should you see how the market moves?
Will your current financial institution give you the best deal?
More important than rate, I believe that your financial situation changes on an ongoing basis. Therefore, this needs to be reviewed on a regular basis.
Don’t get fooled by your bank who will likely offer to renew your mortgage at an inflated mortgage rate vs. the market’s discounted mortgage rate.
One of the smartest things you can do is come and get my opinion of the options you are faced with. I will investigate and discuss the options with you. I will discuss your mortgage renewal to more than just one bank, all of whom want your business. I will do the work for you. I find the lender with the best rate and the best mortgage. I can even secure a rate hold up to three months in advance of your renewal date which can save you thousands of dollars in interest costs.
Reaching out to an Accredited Mortgage Professional contributes to your bottom line, not your banks. It’s a harsh fact that being good and loyal to your bank makes no difference to your rate.
Still not sure, consider the following:
- Should you be loyal to yourself or your bank? What have they done to earn your loyalty lately?
- Will I get a better mortgage strategy from one bank or by have my accredited mortgage professional shop it to over a few lenders that will have to compete for my business?
- Why will my bank offer me their posted rate or their true ‘discounted’ rate along with a three month low rate guarantee?
- Why is your lender telling you that they can help you with your mortgage as long as you take the life insurance or a credit card or…? Let’s discuss this to see if this is really in your best interest or the lender’s.
If you want to learn more about your various options when it comes to renewing your mortgage, call Lisa J. Gryba at 204-371-9284.