How to get the best rate

One of the most costly mistakes when renewing a mortgage is to not looking at all the options. Both blindly signing a renewal statement, or not signing one at all, and allowing the mortgage to renew automatically, can be costly.

Here is what you need to know when it comes time to sign on the dotted line, again:

Start looking 13 months before your mortgage renewal date

Depending on your mortgage lender, it may be beneficial to renew or switch lenders more than a year in advance. A low rate for a one- or two-year term can, in many cases, be more financially beneficial than riding out the last year of a current mortgage at a higher rate, even if you have to pay a penalty.

REALTOR® guided transactions offering more than just peace of mind

By Nolan Matthias

While no bank has come out and said it, their actions speak louder than words. Banks prefer to lend on properties where the transaction is handled by a REALTOR®.

As mortgage professionals, we have noticed increased scrutiny on private sales is becoming the norm – and for good reason.