Renewal
Renewing your mortgage is an essential step in managing your future. It's an opportunity to reassess your current situation, explore better rates, and ensure your mortgage aligns with your long-term goals. Don't hesitate to reach out for guidance on the best options available to you. Let's make this process as and beneficial as possible.
Why Choose CML for your Renewal?
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Expert Guidance: Our team of experienced mortgage specialists is committed to helping home owners like you navigate the complexities of the mortgage process. We’ll help you understand your options, from interest rates to mortgage terms, so you can make informed decisions.
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Flexible Mortgage Options: Whether you're looking for a fixed-rate mortgage or a more flexible variable-rate option, we’ll work with you to find a mortgage that suits your financial needs and long-term goals. Our partnerships with various lenders allow us to offer competitive rates and terms.
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Step-by-Step Support: From your initial consultation to beyond closing day, we’ll be by your side. We offer personalized advice, respond quickly to your questions, and provide resources to ensure a smooth and stress-free experience.
What is a Mortgage Renewal​
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A mortgage renewal is a new agreement to extend your mortgage terms with your current lender or a new lender. If you look at going to a new lender this is often referred to as a switch.
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Reviewing Your Mortgage Options
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When your current mortgage lender sends you the renewal papers, it does not mean you are required to sign them. These papers usually arrive about 4 months prior to the renewal date, some lenders you can request them if you haven't seen them. This is a good time to reassess your personal financial situation and look into current interest rates as well as the costs of switching mortgage holders, if you desire. Has your income increased since the time the mortgage was last renewed? You may want to consider a mortgage with a higher payment so you can pay it off sooner. Have interest rates fallen? You may want to consider shopping around.
We will help you assess your current financial situation, as well as whether your current mortgage terms provide you with the best obtainable deal. We will use our resources to help put you in the right position to meet your mortgage needs.
Get Started Today
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CML Canadian Mortgage Lender is here so you don’t have to do it alone.
Contact us today for a free consultation.