Mortgage Renewal in Canada …..

(ps don’t just sign the renewal)

 

How to save money on your mortgage renewal in Canada:

How transferring your mortgage at renewal can save you thousands of dollars

Did you know that most banks tend to make the majority of their profits after the first term of your mortgage?

How do they do this?

• They send a renewal at a high interest rate that over 60% of clients accept
• There are also no additional underwriting a legal costs for them to incur

Essentially you are made to be a profit centre for the bank immediately upon renewal.

 “How do we turn the tables in the equation and turn you from being a bank profit centre to you benefiting from today’s historically low interest rates?”

The answer is we do the same thing that we did when we completed your mortgage originally – we shop the market and create a competitive scenario with other lenders so that you benefit from best rates and term – again.

If we compare the five year bank posted rate at 5.24% that many lenders issue their renewal offers at versus a good current five year fixed rate at 2.99%, the results are staggering:

• Your payment savings per month would be $370
• Your five year interest savings  would be $32 000
• Your five year additional principal paid would be: $10 000

In summary, your total financial benefit for letting us shop your mortgage renewal in Canada with you would be $370 per month and $42 000 over five years.

Please feel free to contact me with your mortgage renewal in Canada and questions – Rylan Hahn 403-802-7201