EARLY RENEWALS

Thinking of renewing your mortgage early? Contact us today to find out if this option might be right for you!

Because mortgage rates fluctuate constantly, it's smart to review your current mortgage product from time to time, regardless of how long you've had it. An early renewal involves renegotiating the mortgage term and interest rate before your maturity (or renewal) date.

Here Are Some Reasons to Consider Early Renewal:

• Lock in a Lower Rate: Take advantage of lower interest rates to reduce your mortgage payments.
• Take Advantage of Better Terms: Negotiate better terms on your mortgage, such as longer amortization or more flexible repayment options.
• Financial Planning: Provide more certainty in your financial planning by locking in your mortgage payments at a known rate.
• Avoid Rate Increases: Avoid potential rate increases by renewing early and maintaining your current rate.
• Access Home Equity : Refinance your mortgage to access home equity for renovations or other purposes.
• Streamline Finances: Consolidate debts into your mortgage to simplify your finances.
• Financial Relief : Reduce monthly payments through a lower interest rate or extended term if you are experiencing financial difficulties.
• Competitive Advantage: Shop around for the best rates and terms to stay ahead in the market.

A prepayment charge may apply if you currently have a closed-term mortgage and renew your mortgage before the end of term. Contact us if you're unsure about your ability to break your existing mortgage term - we're here and happy to help review the terms of your existing mortgage with you. Before you consider an early mortgage renewal, you should:

• Make an appointment with us to discuss your new lender options.
• Contact your existing lender to get details of any charges or other fees for renewing early.
• Weigh the savings vs. the costs to break your term and/or renew before maturity.

We're here to help shop the market for you and help determine whether you'll save money by breaking your current mortgage and renewing early. And keep in mind we offer a FREE MORTGAGE REVIEW at any time to help answer your questions and explore your options.

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