Renew or Refinance

When it’s time to renew, use it to do a financial check-up too!

A mortgage renewal is like a fresh start; so don’t get caught by the banks. A renewal may not be the answer! Refinancing your mortgage may be a better option for you.

When a term is coming to a close, most Canadian banks will send a mortgage renewal notice in the mail a few months before the term is up. At this time the banks tend to assume that you will sign on with them for another term at their posted rate with very little or no discount. Over half of the public will sign this renewal without researching what the competition has to offer.

At Home is Home we are here to offer you the expertise and resources so you can take advantage of the competitive mortgage market.

Refinancing your mortgage is easy to complete and can expand your financial options. Just consider what we bring to the table:

• Flexible Terms and Pre-payment Options
• Access to over 20 Lenders
• Mortgage Planning/Wealth Planning
• Achieving Your Current Goals
• Accommodating for the Future

Refinancing

Deciding to refinance a mortgage is a big financial decision and it takes more than the decrease in interest rates to urge you to do so.

You must understand your options and the considerations that go with each alternative.

What is refinancing?

When you decide to refinance a mortgage, it may allow you to secure a much more favourable loan term and interest rate, which can make a significant difference when it comes to your long-term financial picture. By refinancing your mortgage, you effectively pay off the full amount of your mortgage and take out an entirely new loan.

The terms can be shorter or longer, and sometimes, the interest is low enough that the terms may not need any changes at all.

There are a variety of options available to help you make the right mortgage decision that could leave you with more dollars in your pocket.