When your mortgage term is nearing its end, it's time for renewal, and this is where your mortgage broker becomes your financial superhero. Here’s a quick guide on how it works, and why it’s cost-free for you:
1. Review Your Financial Situation: Before your current mortgage term expires, your broker will review your financial status. They'll assess if your needs have changed since your last mortgage term.
2. Market Research: Brokers keep their finger on the pulse of current market trends. They'll compare rates and terms from various lenders to find the best fit for you.
3. Tailored Options: Your broker will present options tailored to your current financial situation and future goals. This could include lower rates, better terms, or even switching lenders.
4. Seamless Process: Once you choose an option, your broker handles the paperwork and negotiations with the lender. They work to ensure a smooth transition to your new mortgage term.
5. Why Free?: Wondering about the cost? Brokers are typically paid by the lending institution, not you. Lenders pay the broker a fee as they bring business to them, which means their expertise comes at no direct cost to you.
Renewing your mortgage through a broker not only saves you money but also time and stress. It's a win-win: expert advice, tailored options, and no out-of-pocket costs.
Check out our great Mortgage App to determine if you are in the best mortgage payment plan. https://app.canadianmortgageapp.com/app/mercer-mortgage
Contact The Mortgage Missus Inc. today to learn more!
Tonia Mercer | The Mortgage Missus Inc.
About the author,
Tonia Mercer is an independent mortgage broker. She has been in the industry for 15 years, in 2021 she launched her own brokerage The Mortgage Missus Inc.
Tonia is passionate about financial education and believes that working with independent experts is the best way to get unbiased, professional advice. She has joined forces with local independent home and auto, financial advisor, legal, appraiser and real estate service providers.Effectively creating a concierge service for all things financial and real estate.
Tonia donates a portion of all mortgage revenue to Mercer's Mission, a street dog and cat feeding mission in the Dominican Republic. https://www.facebook.com/mercersmission
Comments