There are many differences and similarities in selecting a mortgage and renewing it. It is similar because selecting your mortgage is just as important as renewing it. It is different however, because when you renew your mortgage, you are in a greater financial position than when you selected it. Over time, your home equity has grown and your principle loan balance has decreased. Many people often sign their current agent’s mortgage renewal, which results in a higher rate. It is a better idea to negotiate a better deal on the new mortgage, which will give you a lower rate and is adjusted to your financial situation.

Denikings Insurance and Investments Broker can help you earn the most out of your mortgage renewal. With the profit earned from the new deal, you can: pay off current debts, save up, invest in renovation and etc.

Disclaimer: Insurance, Investment and Mortgage products & services are provided by Devangkumar Shah.
Mutual Funds license sponsored by Shah Financial Planning Inc.
Lotus Loans and Mortgage ltd. is the principle mortgage broker.