Mortgage Renewal

If you are quickly approaching the time for your next mortgage renewal, you have probably started to receive letters in the mail from your current lender about your next financing term. More often than not, many individuals accept the proposed rate from the lender and fail to look for a better rate that can save a significant amount of money.

Therefore, if you are approaching your mortgage renewal time, do not simply settle for the financing options provided by your current lender; instead, call upon mortgage professionals to help you find the best possible rate for your mortgage renewal financing needs. 

Current Mortgage Rates Matter

When it comes to your mortgage renewal, current mortgage rates are absolutely essential. Current mortgage rates essentially tell you how much of an increase (or a decrease) you can expect in your monthly mortgage payments. Therefore, if the current mortgage rates are higher than the mortgage rate you currently have, then you can expect to see your monthly mortgage payments increase. On the other hand, if current mortgage rates are lower than your existing rate, then you will find that your monthly mortgage payments will decline. Either way, finding the best mortgage rate is an essential step to saving you money now and in the future.

Why Use a Mortgage Broker

Instead of simply signing on the dotted line and accepting the new mortgage rate proposed by your current lender, allow a mortgage broker to help you find a lower rate. Your mortgage broker can create competition between lenders, which ultimately leaves you with a lower mortgage rate. Regardless of whether you are seeking financing for mortgage renewal or purchasing a new home, a mortgage broker is an important person to have by your side to help you obtain the best possible rates.

Use a Mortgage Payment Calculator

When preparing for your renewal, utilize the mortgage payment calculator provided by CENTURY 21 DREAMS INC. to determine your new monthly mortgage payment. By inputting essential information into the mortgage payment calculator you can determine by how much your new interest rate will increase or decrease your monthly mortgage payment. The mortgage payment calculator is an essential tool that allows you to quickly and conveniently prepare your budget for your new mortgage rate.

If you are facing an upcoming mortgage renewal then call upon a mortgage broker to help you find the best interest rates for your financing needs. After determining your new mortgage rate, utilize the mortgage payment calculator to help you plan for your new monthly mortgage payment.

Regardless of whether you are renewing your existing mortgage or looking to obtain a new mortgage, do not navigate the mortgage financing waters alone—call upon CENTURY 21 DREAMS INC. to connect you with their exceptional network of professionals (including mortgage brokers).