Trusted Mortgage Renewal Services in Clarington and Durham region
At Mortgage Power Canada, we will help you not just to renew your mortgage, but also to negotiate it. With our trusted connections with various lenders, we can help you explore your mortgage renewal options in Clarington and Durham region and find a suitable one that will provide you with the best loan terms.
Lender fees
Interest rates
Monthly payments
Annual percentage rates (APRs)
Why Should You Renew Your Mortgage Contract Early?
Early mortgage renewal or renewal, in general, comes with a lot of benefits including an opportunity to negotiate a lower rate for your next term. An early renewal also means you’ll be breaking your current contract to enter into a new term with a desirable rate. Some of the other benefits include:
We understand that most of the homeowners stay with their existing mortgage brokers, thinking about all the hassle and time taken to change them. But, if you are looking for trustworthy mortgage renewal brokers in and around Clarington and Durham region, get in touch with us today.
Smaller payment possibilities
You can save a lot of money by negotiating a smaller interest rate
Possibility of no extra fees and pre-payment charges so that you can pay off your mortgage on time
We understand that most of the homeowners stay with their existing mortgage brokers, thinking about all the hassle and time taken to change them. But, if you are looking for trustworthy mortgage renewal brokers in and around Clarington and Durham region, get in touch with us today.
What are the Four Things to Evaluate Before a Mortgage Renewal?
Have a mortgage renewal calendar: mark your current term’s date and count back 120 days. That’ll be the date when the majority of the lenders will let you start your early renewal process. Usually, at the said date, you can renew your contract without having a pre-payment penalty. You can also use this time to research more on mortgage renewal benefits, or identifying which lender is offering what.
Always consider your long-term and short-term financial goals as this will help you in figuring out how to handle a crisis situation or what to do if you have some extra money that you can save.
Be prepared to renew your mortgage contract in the last 30 days. According to the law, your lender has to send you a mortgage renewal notice at least 21 days prior to the actual renewal date. They will also have a renewal offer send to you, with their lowest posted rate that is good for 30 days before maturity.
Deciding on the mortgage renewal contract: after you’ve done your research on various mortgage renewal schemes in and around Vaughan and Woodbridge, it’s now time to make a decision based on your financial goals and other factors.
Get Tailored Mortgage Renewal Deals with Mortgage Power Canada
Is your mortgage renewal date coming up? Its okay to feel confused, but we are here to help you get the best deals on your renewal contract. Our knowledgeable and licensed mortgage brokers can help you solve all your queries. Get in touch with the mortgage brokers at Mortgage Power Canada to learn more.
FAQs
How reliable can be a mortgage broker?
The mortgage brokers at Mortgage Power Canada are trained and licensed professionals who are eligible to represent you with the best renewal deals. They usually know where to find the best rates and how to obtain mortgage financing in the best possible way
Should I accept the rate proposed by my bank or should I negotiate?
If you happen to find a lender who offers you the best mortgage features, you can ask your bank to match the competitor’s lower rates
Other than finding the best rates, what’s the use of using a mortgage broker?
These mortgage brokers are experts in many different areas of mortgage policies, including what type of mortgage financing each lender prefers to pursue. This will help you in figuring out not only the best rates but also if a project is funded at all.