Refinancing or Renewing your Mortgage

Refinancing or Renewing your Mortgage“Information is not knowledge. The only source of knowledge is experience” – Albert Einstein

Surprisingly the average consumer seems to spend more time reading the fine print on their credit card than they do spending time deciding the terms of their mortgage. It pays to have an experienced Mortgage Consultant in your corner and working for YOU to ensure you save the most money regardless if you are refinancing your mortgage or simply at the end of your term and up for renewal. I have the financial understanding and experience to ensure that you are not only getting the best rate but that ultimately, you are saving the most money.

More than 65% of Canadians do not shop around for the lowest rate at renewal.  The outcome:  consumers are handing their banks thousands of dollars more a year in interest on their mortgage than they have to. You would expect that after being a loyal client that banks would reward you for that loyalty by offering you the best rates at renewal- not true.  Banks do offer what appear to be great deals to get you in the door but once you become a client they do very little to keep you.  You are their short – term deal.  When you work with me you are my long – term client. Banks usually end up offering you their posted rates at renewal and it is up to you to negotiate a better rate.  It doesn’t need to be that hard.  As your Mortgage Advisor, I will compare the offerings of several lenders and negotiate on your behalf to find you the best rate and the best terms, with very little effort on your part. In most cases, renewing your mortgage even with another lender is completely FREE! It pays to allow myself, a Mortgage Specialist, to work on your behalf at renewal; it could just end up saving you thousands!

There are several reasons that you may consider refinancing your mortgage: to take advantage of lower interest rates, to borrow to invest, purchase an investment property, pay off high interest debt, pay for children’s education, free up equity to do home renovations or improve your cash flow. Whatever the reason, we will work together to establish an Action Plan that will help you achieve your financial objectives.  By reducing the interest costs on high interest consumer debts (credit cards, lines of credit, etc.), we could be saving you thousands of dollars in interest as well as reducing your monthly carrying costs significantly. At first glance you may shudder at the thought of paying a penalty but once we run a cost benefit analysis we will determine how much we can save you.  You may find that a small amount of money up front can save you tens of thousands over the term of your mortgage. Most of the time we can roll any costs right into the new mortgage, meaning that you will have no out of pocket expenses.  If we review the numbers and it does not make sense at the time to adjust your mortgage, my Mortgage Management Program allows me to proactively monitor your mortgage. When there is a change in interest rates and the time is right I will notify you.

Ultimately, it pays to know your options.   My experience and expertise allow me to provide you with the most hassle-free, cost effective solutions to refinance or renew your mortgage- catered to your financial goals.