Renewing Your Mortgage

Refreshing Your Financial Path

Is your mortgage term nearing its end? Now is the opportunity to contemplate renewing for another term and exploring the various options available. Let us assist you in finding a mortgage that aligns with your budget and financial requirements.

Whether you’re looking to leverage your home’s equity for a significant purchase or seeking to consolidate debt, we can alleviate some financial stress by tailoring a solution that suits your needs.

Banks often send out renewals at higher rates than their best available rates, with renewals frequently offered at posted rates—typically about 2% higher on a 5-year term than the best discounted rates. This practice doesn’t necessarily favor clients, as many may simply sign and return the renewal. In fact, a significant percentage of individuals, around 70-80%, follow this path and unknowingly forfeit potential savings in interest. We can take the reins, comparing offers from various banks, credit unions, and lenders to secure the best industry deal. Our rates generally outperform those offered by banks.

Constructing a strategy to work towards your mortgage-free future is a service not commonly provided by many lenders or banks. Allow us to customize payments, prepayment privileges, and other strategies to expedite your journey to a mortgage-free life.

To secure the best deal, it’s advisable to review your mortgage 4-6 months before its expiration. Check your mortgage statement for the expiry date and flag it for review six months in advance. We can hold a rate for 120 days and monitor rates during that period. If rates decrease, you always receive our best rates.

Given the current low-interest environment, a free, no-obligation mortgage check-up is worth considering. Even after factoring in a penalty for breaking your existing mortgage, there may be substantial savings available.

Get In Touch

1330 Mid-Way Boulevard, Unit #1
Mississauga, ON L5T 2K3 Canada

(647) 525-4005

Call us now

Mon: 9:00 AM – 6:00 PM
Tue: 9:00 AM – 6:00 PM
Wed: 9:00 AM – 6:00 PM
Thu: 9:00 AM – 6:00 PM
Fri: 9:00 AM – 5:00 PM
Sat: Closed
Sun: Closed

Mortgage Alliance - LIC # 10530