A new agreement to renew or extend mortgage terms with the lender is known as mortgage renewal. Mortgages are taken out for a specific duration. On maturity, you need to repay the loan. Mortgage renewal is a good idea, if your original mortgage terms are attractive and your lender is ready to continue with the same terms.
But more often than not, the interest rate for renewed mortgages is higher and you no longer have access to some of the options that you enjoyed earlier. Therefore careful consideration is necessary before signing a mortgage renewal contract.
Upon the maturity of your existing mortgage contract, you have a chance to switch to a lender offering better terms. I canoffer a wide variety of affordable mortgage solutions to suit different requirements. Our flexible low interest solutions can help you save a considerable amount of money in the long run. Call me 647-449-7529 for more information.
Chandanpal(Sunny) Dade Mortgage Broker Ph : 647-449-7529 Rates are subject to change without notice OAC, E&O.E Some condition apply Majestic Mortgage FSCO # 12386