A Mortgage Broker Can Save You Thousands On Your Next Mortgage!
Mississauga, ON -- (SBWIRE) -- 05/28/2013 -- I get asked many mortgage related questions on a daily basis... that's what I do. That said this weeks entry has to do with Mortgage Renewals and some tips I can help give to people. As you know most Canadian families biggest expense is their mortgage payment yet come renewal time almost 30% of Canadian households simply automatically renew their mortgage without ever shopping around for a better rate or a mortgage provider that suits their needs just a bit better.
As a mortgage broker I'm independent of the banks and I have the ability to shop around to find you the best rate and mortgage product to suit your exact needs.
On to the Mortgage Renewal Tips:
Start Shopping Early & Do Your Homework:
Approx 4-6 months before your mortgage is coming up for renewal start shopping around to see what's out there. As a mortgage broker this is part of the service I offer to you and it's typically free for you as I get paid by the lenders and not you the client. Some lenders can guarantee a rate for a period of time so get cracking.
Never Sign the Renewal Letter:
Your current mortgage provider will likely send you a mortgage renewal letter in the mail for you to sign and send back to them. DO NOT SIGN THIS!
Your lender will almost never send you the best offer by default. They're hoping that you simply sign off and that's it. When you work with me I will work hard to negotiate on your behalf to get the best rates possible for you.
Use a Trusted Mortgage Broker:
Most Canadians still use one of the big box banks to deal with when it comes ot their mortgage. As a mortgage agent I have the opportunity to deal with almost every lender in Canada which gives you a wide range of products and rates to choose from. As a mortgage agent I work for you and will inform you what I feel is the bets fit and solution to suit your needs and to save you money. It's a proven fact that most people why use a mortgage broker/agent pay less for their mortgage than those who simply deal with the banks directly. One of the big reasons is that as a mortgage agent I have daily dealings with the lenders, they know me and I bring them business so I can typically get lower rates than what you will see posted online. Bottom line I can typically get you into a mortgage that offers you better rates and is less restrictive - huge win for you.
Did You Know:
Saving even 0.5% on your mortgage rate can save you up to $10,000 over 25 years (based on a $150,000 mortgage), now that would definitely pay for a few nice trips.
The Bottom Line:
Working with a Mortgage Agent such as myself is the best way for you to get the best mortgage rates along with a better mortgage product. Your typical banks hopes that you will not negotiate with them and that's typically what most Canadians do thus you're likely paying more than you actually should be, that makes no sense.
Give me a call for a FREE Mortgage Renewal Checkup: I'll take a look at your current mortgage, ask you a few questions and shop around to see what we can do to help save you money.
Call me today at 416-645-0822
By: Patrick Romann - www.patrickromann.ca