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Renew Your Mortgage
When trying to decide whether or not you should renew your mortgage can be a difficult and stressful time. Particularly when the number of options you have are so varied and complicated. Choosing to renew your mortgage is as monumental a decision as selecting your initial mortgage.
When it comes to renewing your mortgage, you will be in a much better financial position than you were when you applied for the initial one. This will be largely due to the amount that your home’s equity has increased over time. Also, you have increased the principal amount that your home equity has grown over time. The principal loan amount has been dramatically reduced each month as well, this puts you in the driving seat for negotiation with your provider.
Due to fluctuations in the market and an improved financial situation, many people will see a huge benefit to renewing their mortgage, as the details that you submitted to get the initial mortgage will have changed substantially. By taking the time to examine the current state of your mortgage, you can massively improve the terms of the loan. Considering the amount of equity, you have in your home, it is foolish not to reap the benefits of all of your hard work over the years. A lot of homeowners are paying outdated rates that do not come close to reflecting their financial status.
It is the hope of the PUNEET GARG MORTGAGE ADVISOR team that you will be able to fully benefit from our many years of experience in this field and ultimately get a much improved mortgage. We are experts in providing our clients with the very best options that are present in the Canadian mortgage industry. We have decades and decades of combined knowledge regarding the mortgage renewal process and we will be able to get you the very best deal possible when it comes time to review your mortgage.
Other than reducing interest rates, renewing your mortgage can allow you to free up money from your existing mortgage to help clear other debts. Specifically, you would be able to clear debts such as credit card balances and lines of credit. You could also invest the money back into your home, upping the value and further benefitting from your investment.
The benefits to renewing your mortgage are very real and can be a much needed boost to current financial concerns. It only takes a moment to get in touch with an expert member of the PUNEET GARG MORTGAGE ADVISOR team, we will be able to review your situation and be able to provide a recommendation to suit your needs. We will work tirelessly to ensure that you get the best out of your money.