Mortgage Renewal

Apply Today
for Fast Approval

captcha

 Sign Me Up for Future Email Communication

Canada's Largest Private Lending Specialist
Canada's Largest Private
Lending Specialist
Instant Mortgage Approvals

Apply Today
for Fast Approval

captcha

 Sign Me Up for Future Email Communication

When the term on your mortgage expires it is time to renew your mortgage.

At this time you will be able to re-negotiate your interest rate based on current market conditions. The bank or financial institution you are currently with will likely offer you a renewal. DON’T TAKE THE FIRST OFFER! It is estimated that over 65% of Canadians simply re-sign their mortgage with the same lender at renewal time. The rate and terms offered are rarely questioned as most people choose to avoid the hassle of renegotiating. Lenders know this and therefore won’t offer the lowest rate or best terms available. A mortgage is typically the largest expense you will ever have and making this mistake will cost you thousands!

Remember that you do not have to renew with the same lender and should always consult with your mortgage broker prior to accepting any offer. In doing this you will ensure yourself the most competitive rate and terms at renewal time.

Early Renewals
It is also possible to renew your mortgage early. You may opt to renew early if the current interest rates are much lower than your existing interest rate. There can be drawbacks to renewing your mortgage early such as payout fees, but these fees are often far less than the money you will save at the new lower interest rate.

If you are not sure if it makes sense to renew early, Contact us and we will be glad to run the numbers for you.

Get Pre-Approved For Your Renewal In Advance
It is always wise to get pre-approved 4 months before your renewal date. This will allow you to hold a rate (see Rate Holds/Rate Lock) and ensure the most competitive rate and term leading up to your date of renewal. If you arranged your mortgage with Matrix Mortgage Global, we will be sure to contact you 4 months in advance and help you make the right decisions.
To renew your mortgage Apply Here.

Client Success Stories

CALL 24/7 at 1-800-429-0717
 
 

Read the Latest from Our Blog

  • Shawn Allen Mayor John Tory
  • Supporting the Scarborough Community Renewal Organization

    Scarborough Community Gets A Voice  Shawn Allen, Principal Broker of Matrix Mortgage Global is an active member of the Scarborough Business Community and sponsors the Scarborough Community Renewal Organization (SCRO). Last month SCRO held their first annual general meeting and officially swore in their committee members. The project initiatives are to move the Scarborough in a […]

    Read More
© Copyright 2016 | Matrix Mortgage Global Brokerage Lic# 11108 | 100 Consilium Pl. Suite 200 Toronto On M1H 3E3