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Up for renewal? What do you do now? Your Renewal Checklist
October 23, 2024
A mortgage renewal is an opportunity to review your current financial situation and make some important decisions during this phase of life. You can look at refinancing or renewing your existing mortgage without any penalties. It's a great time to look at how long you want to stay in your current home, potential future renovation, pull out some equity for college/university, get rid of unwanted debt, or sell and move into a home that is more suitable. I have access to many different lenders; we can find a solution that is perfect for your needs.
RENEWAL CHECKLIST:-
- Reach out 4-6 months before your mortgage renews
- I can secure a rate hold for up to 120 days prior, if the rates go down you get the benefit but if the rates go up, you’re safe
- Before signing the renewal letter from your current mortgage provider, reach out so I can shop around for the best rates
- Avoid accruing any new payments or debt prior to renewal to help your qualifying rates
- Pay off or clean up any small loans and credit cards owing
- Or look at refinancing to pay off high interest debt
- Keep credit score high by keeping payments on time and don’t overextend your credit limits.
Contact me for further details, Sarah Johnson 250-218-1530
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