Things to consider when renewing your mortgage.
When your mortgage term comes to an end, the next step is to look at your mortgage renewal options. Here are five things you should consider when renewing your mortgage to make sure you pay the least amount of money over your next term.
1. Shop Around & Look at all your Options
Do not simply sign renewal papers with your current lender!
When your renewal papers come in the mail, please understand that your current lender hasn't offered you the best terms available. Don't just sign and mail them back, to get the best deal… you need to look at all your options first!
2. Interest Rate
Most Canadians are conditioned to think that the lowest interest rate means the best mortgage product.…