We always recommend to, shop around when you receive the renewal letter from your financial institution. Compare mortgage rates and features can help you make an informed decision. Life changes and so does your priorities.
Mortgage renewal is also an important time to decide if you should roll your high-interest credit cards and other debt into your mortgage to get one lower payment, boost your cash flow, and save on interest costs. Or perhaps it’s a good time to take some equity out for renovations, a second property or for investing.
We work for you and are in touch with a wide variety of lenders so we can always make sure you are in the best position possible. When you are six months from renewal, be sure to contact us so we can review all your options and strategies, not just those presented by your current lender.