Renewing Your Mortgage
Renewing a Mortgage in Kingston
Why Renew Your Mortgage?
The goal of almost every borrower is to pay the least amount of interest and pay off their mortgage as quickly and cheaply as possible. This means ensure that at renewal of your mortgage, you look around to determine what your options are and if there is a better deal for you elsewhere.
When a mortgage has reached its maturity date, the existing lender will mail out a Renewal Statement which offers a new interest rate and new mortgage terms.
In order to find the best mortgage, borrowers should consult a reputable mortgage broker who has access to many different mortgage lenders and who can compare interest rates, terms and prepayment options.