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Renewal & Switch Mortgages
Mortgage Broker Serving the Durham Region, ON
Is your mortgage term ending? Don’t just sign the first offer your bank sends you. We provide the expert mortgage renewal strategies you need to lower your interest rates and improve your terms.
What is a Mortgage Renewal?
A mortgage renewal occurs when your current mortgage term (e.g., 5 years) comes to an end. At this point, your lender will send you a renewal letter with a "posted rate." However, you are under no obligation to stay. This is your most powerful opportunity to re-negotiate your interest rate or switch mortgage providers to a lender that offers better perks and lower costs.
Why You Should Consider a Switch Mortgage
The Benefits of Switching Mortgage Lenders at Renewal
Most Canadians simply sign their renewal letter because it’s easy—but it often costs them thousands in extra interest. By switching mortgage lenders, you force the market to compete for your business.
As an experienced mortgage renewal broker, RS Mortgage Solutions helps you navigate this process seamlessly. When you look into switching mortgage lenders at renewal, the benefits often include:
- Lower Interest Rates: Accessing "unposted" rates that your current bank won't offer.
- Covered Costs: In many cases, the new lender will pay for your appraisal and legal fees to win your mortgage.
- No Stress Test: For many insured borrowers, you can now switch lenders without a new stress test, making it easier than ever to move for a better deal.
- Customized Terms: Adjusting your payment frequency or amortization to match your current life goals.
Contact RS Mortgage Solutions - Mortgage Agent in Durham Region, ON
Local Mortgage Renewal Broker Serving the GTA
RS Mortgage Solutions provides expert advice for those switching mortgage lenders in the Durham Region including Pickering, Ajax, Whitby, Oshawa, Clarington, Port Perry, Cannington, Beaverton, Brock, Uxbridge, Scarborough, Etobicoke, North York, Toronto, Markham, Vaughan, Richmond Hill, Newmarket, Brampton, Oakville, Milton, Mississauga, and across the Greater Toronto Area.
Ready for a Smarter Mortgage Renewal?
Your bank is looking out for their bottom line—let us look out for yours. Contact your local mortgage renewal broker today to see how much you can save in Newcastle, ON or anywhere in the GTA.