A mortgage renewal happens when your current mortgage term ends. This is an opportunity to revisit your mortgage terms, including the interest rate, payment schedule, and length of the new term. You can choose to renew with your existing lender or shop around for better offers from other lenders. At this time you can also choose to refinance for any additional funds you need.
When you renew your mortgage, you have the chance to improve your financial position. You might qualify for a lower interest rate, which can lead to lower monthly payments and overall savings. Renewal also allows you to modify your payment schedule or pay off your mortgage faster by increasing payments or making lump sum contributions. Moreover, if your current lender’s offer isn’t competitive, you can explore other lenders to secure better terms.
Get StartedWith the most competitive rates and flexible terms, you can save thousands of dollars every month on your mortgage. Say goodbye to high-interest rates and hello to more savings.
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