Mortgage Renewal In Castlegar
Renewing your mortgage can be a fantastic opportunity to chat with a licensed Castlegar mortgage broker (such as myself!) to explore your mortgage renewal options. I work with countless lenders which allows me to negotiate competitive rates with creative mortgage renewal solutions.
Mortgage Renewal In Castlegar
When the term of your mortgage in Castlegar is close to maturing, your lender will send you a notice of renewal.
Many borrowers wait to receive their renewal statement, then blindly sign whatever new mortgage renewal they received without exploring their mortgage renewal options.
Has your life or the economy shifted since your last mortgage commitment? Probably!
So why not use your mortgage renewal in Castlegar as an opportunity to secure a mortgage which better reflects your lifestyle and goals?
Hello!
I'm a licensed Castlegar mortgage broker and I'd be happy to learn about your unique borrowing situation to help guide you into a fantastic mortgage renewal.
Understanding Your Renewal Statement
Your renewal statement (notice of renewal) will be sent to you atleast 21 days before the end of your existing term (by law) if your mortgage agreement is secured through a bank or other federally regulated instituation.
Information included in your Castlegar mortgage renewal statement should be:
- Castlegar mortgage term
- Payment frequency
- Interest rate
- Associated fees and charges
- Remaining principal balance at the time of your Castlegar mortgage renewal
While this information is all useful, it doesn't guarantee you the best mortgage deal.
It's best to work alongside a licensed Castlegar mortgage broker who is legally licensed to put your best interests first for your renewal.
Important Considerations For Your Castlegar Mortgage Renewal
When assessing your best options for your Castlegar mortgage renewal, there are many essential factors to consider.
A LICENSED Castlegar MORTGAGE BROKER (SUCH AS MYSELF!) CAN TAKE A DEEP DIVE INTO YOUR BORROWING SITUATION TO DISCUSS RENEWAL OPTIONS SUCH AS:
- Your payment frequency - are you in a different financial situation which would allow you to increase your payment frequency and pay off your Castlegar mortgage quicker?
- Choosing a fixed rate or a variable rate - what does the economy look like? What are interested rates forecasted to look like over the next few years? Do you require additional security for your Castlegar mortgage payments?
- Your credit score/credit report, along with valuable information from 'credit 101' for how to repair your credit if it's taken a hit
- If you've recently struggled with bills, we can take a deeper look at your financial situation to explore whether a debt consolidation mortgage solution (such as a Home Equity Line of Credit [HELOC]) would be beneficial
- Assessing whether an open or closed term mortgage would be a better fit for your Castlegar mortgage renewal goals
WILL ANOTHER LENDER SAVE YOU MONEY?
- Property appraisal fees
- Administration/legal fees
- In some cases, lender or broker fees
- Discharge, transfer, and registration fees
- Mortgage loan insurance premiums
The costs associated with switching lenders would be factored into the benefit from switching.
Working with a licensed Castlegar mortgage broker is a fantastic avenue to have the difficult numbers calculated for you. I'd be happy to assess your options with your current lender, as well as your options with other lenders to match you to an optimal mortgage solution.
A Trusted Licensed Mortgage Broker For Your Castlegar Mortgage Renewal
As a licensed Castlegar mortgage broker, I have a legal responsibility to ensure that my client's best interests are put FIRST. I don't work for the banks, I work for YOU.
My award-winning mortgage services are provided with a friendly, approachable nature. I value clear communication and transparency, and will put my best foot forward to help you reach your Castlegar mortgage renewal goals.
I'm Kyle Benzies (licensed Castlegar Mortgage Broker); I have extensive experience in helping borrowers (just like yourself!) secure amazing deals for their mortgage renewal.
To discuss your mortgage renewal or other mortgage options in Castlegar, give me a no-risk phone call today!
***other conditions may apply to anything listed above. The information provided on this page should NOT be implicitly relied upon, and may not be 100% up to date. It's best to contact us for the most current conditions/program offerings for mortgage renewals***