Mortgage Renewal And Transfer

“Are You Overpaying For Your Mortgage?”

If you are planning to renew your mortgage with your current lender, there is a good chance you are leaving opportunities to save money on the table. Lenders understand the easy route for borrowers is to simply renew with them, and it is why lenders will always initially provide you with their non-competitive rates upfront.

Where it is not your lenders job to inform you of better mortgage options on the market upon renewal, speaking with us at Riley Boychuk Mortgages will ensure you are situated in today’s most competitive mortgage product that meets your financial needs.

Alternatively, a switch / transfer is simply the process of taking your existing mortgage and transferring your mortgage product to a new lender. This can occur for a variety of reasons, and will allow the homeowner to keep their terms the same; including their amortization schedule (period of time it will take to pay down your mortgage). While a mortgage transfer is the reassignment of your existing mortgage from one lender to another, homeowners are generally in pursuit of a better rate, better service, or a more suitable product.

Additionally, all our needs and wants change over time, and you may choose to secure an entirely new mortgage product upon renewal. Maybe you want to bring your payments down or maybe you want to pay your mortgage off sooner. Perhaps you want a Home Equity Line Of Credit or a Second Mortgage. Or maybe you require a more flexible mortgage that gives you the option to sell and purchase a new home in the near future.

It’s important to review all the options you are entitled to in today’s market. Speaking with our team of professionals at Riley Boychuk Mortgages will provide you options to accurately choose what mortgage product best suits you and your family’s needs.

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