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4 Tips For The Best Mortgage Renewal

General Angela Calla 17 Mar

4 Tips For The Best Mortgage Renewal

 1. Do not sign the offer you get in the mail and just send it back, biggest mistake ever. Lenders are very strategic with when, how and why they contact you to suggest something, so it’s important to have a clear understanding of the entire landscape before signing anything.

2. Start early: 4 months is ample time. With a proactive mortgage management program your mortgage should be reviewed every year, if there have been any income or credit changes renewing early may be to your advantage. However if you are getting pressure to renew early it’s generally because it benefits the lender and not you. When you work with an independent AMP a full look back is done prior to renewal to ensure you get the lowest cost of home ownership.

3. Ensure you give consideration of your life plan over the next decade to make sure you don’t make costly mistakes by getting into what looks to be a good rate mortgage that costs more over the term or sticks you with a large payment penalty for later modifications, collateral charge or sale only clause.

4. If you are considering renovations, investments or taking out equity to pay out high interest debt- now is the time!

 Your AMP will give you unbiased, transparent advice with the power of choice.  Our service from our initial consultation to the lifelong proactive management of your mortgage is free, so you can make a clear empowered decision on your mortgage.


Angela Calla, AMP

Dominion Lending Centres-Angela Calla

Host of ” The Mortgage Show” Saturdays @ 7pm on CKNW AM980 Phone : 604-802-3983 Fax: 604-939-8795