Mortgage Renewals

The Dangers Of Simply Renewing Your Mortgage

Most banks typically provide mortgage renewals at a higher interest rate - often 1.5% to 2.25% higher than the discounted rates they offer to new mortgage customers. The majority of military personel will renew with their bank at the Posted Rate, and miss the opportunity to save.

Bank Tactics That Maximize Their Own Profit

Banks are motivated to increase their profit. That is why they often send you the mortgage renewal notice late in the mortgage term leaving little time for you to make a sound mortgage renewal decision. Banks rely on the fact that you are unlikely to have enough time to seek out and negotiate a better interest rate and mortgage terms with other lenders.

Put Your Interest First And Save Money

To save money and get the best deal, review your mortgage needs at least 4 months before your mortgage expires.

For military personnel who are in the process of renewing their mortgage, they can lock in the most competitive mortgage interest discount rate up to 120 days before renewal. Locking in your interest rate today provides you with the following major advantages:

You are Pre-Approved at the most competitive discount interest rate; and
Most importantly, you are protected from all mortgage interest rate hikes that could occur prior to your mortgage renewal date.

For existing customers of the Military Mortgage Plan, you will automatically receive the above benefits without having to lift a finger.

The Military Mortgage Plan is the single plan you need to take advantage of it all!

For more information or to set up an appointment

(416) 619-9248

ARupf @ MorCan . ca (without spaces)