Mortgage Renewal
However, by pursuing a renewal with a different lender - or by renegotiating with your existing lender - you can get a better mortgage renewal, with terms that are more favourable to you, not the bank.
Many things can happen in the standard 5 year mortgage term, and for many reasons your previous mortgage may no longer work for you: you could have changed careers, gotten married, or gone back to school. If your yearly income has increased, it can be favourable to seek out a mortgage with
Let Myette help you get a better renewal.
Most Canadians renew their mortgage with their current lender. This makes sense - it can be time consuming to shop around for a new lender, and accepting their existing bank's offer is easy.
Let Myette help you get a better renewal.
At Essential Mortgage Company, Myette shops some of Canada's leading lenders to compete for your renewal so you can rest assured that we are working hard to help get you a competitive rate matched to the features and benefits suited to your unique needs.
a higher monthly payment to pay back more of the principal loan each month and shorten the amortization period of your mortgage.
Alternatively, you could have an increased
financial burden in the form of large, sudden expenses, which would be eased by switching to a mortgage with lower monthly payments and a longer amortization period.