Mortgage renewals can be daunting, especially in today’s high interest rate environment where the prospect of facing a payment shock is very real for many homeowners. But as mortgage brokers, we understand the intricacies involved in the renewal process, especially given that rates have changed so much over the past two years.
My goal is to alleviate the stress and uncertainty you may be feeling, and help you secure the best terms for your renewal that are tailored to your unique financial situation.
In case you haven’t considered the services of a broker for your upcoming mortgage renewal, here are just some of the benefits of having a professional on your side during this oftentimes stressful process.
Unrivaled access to mortgage options
Mortgage brokers have access to a multitude of lenders, including those not directly available to the general public. And unlike banks and certain financial institutions that only offer their own mortgage products, we not only ensure you’re getting a good rate, but also the best product that's tailored to your specific needs.
Expert negotiators
We negotiate mortgage rates for our clients every day, it’s what we do. Our industry expertise and lender relationships often allow us to secure better rates and terms than you might on your own. But it’s not just about finding a lower rate. When clients ask us, “Can you beat this rate?” we dive deeper, considering your entire financial landscape. Because the lowest rate isn't necessarily the best if it doesn't align with all aspects of your financial goals, especially in today’s more challenging market.
Cost savings beyond the interest rate alone
Not only can you benefit from securing a more competitive mortgage rate, but we also offer tailored financial strategies that can significantly reduce your overall borrowing costs. These can include optimizing your amortization period to balance loan reduction while maintaining sufficient monthly cash flow, advice on making lump sum payments to reduce the principal faster, and structuring your mortgage to minimize penalties and fees down the road.
A stress-free renewal process
Perhaps one of the biggest benefits is one that you can’t put a price on—peace of mind.
Renewing your mortgage with a broker is a stress-free process. We handle the legwork, from researching and comparing options to negotiating with lenders on your behalf. This not only saves you time but also spares you the hassle and frustration of going through your renewal alone. Our goal is to make the process as smooth and efficient as possible, and giving you the peace of mind of knowing your mortgage renewal is in capable hands.
So, whether your mortgage is up for renewal this year, next year, or even several years from now, be sure to reach out early so we start the conversation. By doing so, you’ll ensure that when the time comes, you’re not just prepared, but well positioned to secure the best mortgage possible.
Mia Hollinger
Mortgage Associate
(306) 291-3817
mia@mortgagesbymia.ca