Mortgage Renewal Broker Mississauga, Ontario, Canada

If your mortgage is about to expire and you have less than six months to renew it, do not wait until the last second to speak with your current lender. At the end of the term, if the balance on your mortgage is still due, you will need to renew with your current lender or select a new one through a process of mortgage renewal. Being proactive can help you understand your alternatives and ensure a seamless transition when your mortgage term ends. 

It is strongly advised that you begin the renewal process 120 days (four months) before the end of your current term. Because many lenders allow you to renew your mortgage during this time without incurring any additional fees, this timing is helpful. Starting the process early gives you plenty of time to evaluate lenders, negotiate better terms, and prevent the last-minute hurry that could result in bad choices.

During these four months, you can assess your objectives, financial situation, and any market developments that can affect the conditions of your mortgage. Now is also an excellent time to consider modifying your mortgage’s type, duration, or interest rate. Let us do all the reaserch for you and increase your chances of finding a better rate or more suitable mortgage package, ultimately saving you a substantial amount of money.

Early engagement with your present lender and investigating other lenders simultaneously creates opportunities for better terms and rates. Let’s make a well-informed choice that fits your budget.