Mortgage Switch or Renewal

Mortgage Brokers City can help you renew or switch your existing mortgage. Mortgage lenders normally send out a renewal form to existing clients 30 days prior to their term expiration date. Statistics show that 3 out of 4 Canadian homeowners will renew their mortgage with their existing institution without first shopping the offered rate. This rate may not necessarily be the most competitive rate in the market. If your mortgage is up for renewal, you should take the time to research the current rates offered by other Canadian lending institutions to ensure you obtain the lowest rate on the market. Shopping for a better rate on your own can be very time consuming, especially since most Canadian lending institutions operate during normal business hours. A second factor to keep in mind is that each time an application is taken by a different institution, a credit inquiry is done. This can lower your beacon score and further eliminate your chances to fit into the best mortgage product on the market.

Your bank is only one lender and therefore has only one set of rates and/or products they can offer you. Our Mortgage Consultants have access to a network of lenders, all of which compete directly for your business. A Mortgage Broker/Consultant is independent, professional, licensed and trained to work on your behalf to find the best mortgage product and rate for you!

At Mortgage Brokers City we highly recommend that every customer shop for the best mortgage rate and product on the market. Our Consultants will perform only one check into your credit history, and shop your mortgage with many different lending institutions, to find you the best terms & rates to meet your needs.

If your mortgage is up for renewal within the next 4 months, please take the next few minutes to fill out our application on line or contact one of our qualified Mortgage Consultants to discuss your options.