Is it Time to Renew? Tips from a Red Deer Mortgage Broker

Is it Time to Renew? Tips from a Red Deer Mortgage Broker

March 8, 2017
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As a Red Deer mortgage broker, I have been through the mortgage process with my clients countless times. From applications to pre-approvals and renewals.

Sometimes the process can seem never ending and it might be tempting to just sign your mortgage renewal paperwork without reviewing your options. This can cause you to miss out on locking in a lower interest rate or adding better terms and options to your existing agreement. For some, this might be because you were unaware that you had options when it comes to renewing your mortgage, but I’m here to let you know that you do!

The following checklist has been created to guide you through the process of renewing your mortgage and getting the most out of it:

One to Two Months Before

_ Research current mortgage rates and market statistics

_ Lock in a test rate to track before bringing up that rate in negotiations

_ Use a mortgage calculator

One Month to Two Weeks Before

_ Begin negotiations on rates and other options

One Week Before

_ Double check your agreement before committing to the renewal

Of course, all of the steps above are things you can do on your own, but having an experienced Red Deer mortgage broker on your side will help ensure the renewal process goes as smoothly as possible.

Mortgage brokers work with you and for you! We can research and negotiate rates on your behalf. This step of the process is usually where clients request the most help because negotiating with financial institutions can definitely feel intimidating. I have worked with many of the local financial institutions over the years and the relationships I have built through these business dealings gives me a “leg up” on negotiating your rates with them.

I hope you have found this information useful and I am looking forward to helping you through your renewal process!

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