Thinking about switching lenders at your next mortgage renewal? Don’t leave it to the last minute.

Watch my video or read on to find out why!

Review Your Options Before Mortgage Renewal

When it comes to a mortgage renewal, preparation is everything. Ideally, you want to start reviewing your options three months in advance. This gives your mortgage broker time to find the best rate, complete your application, and finalize all legal steps involved in switching lenders.

Unfortunately, many homeowners wait until their mortgage renewal is only days away. While it’s not impossible to get something done, it often means entering a short-term open mortgage while the paperwork gets processed. And that can cost you.

What most people don’t realize is that switching lenders during a mortgage renewal isn’t just about finding a better rate. It involves legal paperwork and timelines that need to be accounted for. That’s why working with an experienced mortgage broker can make all the difference.

It’s Not Too Late

If your mortgage renewal is fast approaching, don’t panic—but don’t wait either. Even if you’re late, there may still be time to secure a better rate and a more suitable mortgage. Whether you’re looking to lower your payment, adjust your amortization, or simply explore your options, a proactive approach to your renewal can save you money in the long run.

Remember, the earlier you reach out, the better your choices. But even if your mortgage renewal is tomorrow, it’s worth making the call.

If you’re looking to get pre-approved for a mortgage to buy a property in Edmonton, fill out my online application. I’m here to help you every step of the way.

About Jason Scott, Edmonton Mortgage Broker

Looking for a personalized mortgage solution? As an Edmonton Mortgage Associate, I’ll be your trusted partner who will help you get the right mortgage for your family home or Investment property. I’m Jason Scott, and I’ll be your Mortgage Broker in Edmonton.