Mortgage Maturity & Mortgage Renewal
Typically, homeowners stay with their current lender until the mortgage term ends because it is convenient. However, making a call to your bank and asking some educated questions on rates could be well worth the effort.As a Mortgage Broker, Leo works on securing a better rate than your bank’s best offer by accessing more than twenty different lenders competing for your business. One hour reviewing your situation could save you thousands of dollars in the long run. It’s time well spent.
Get educated on all the options before renewing your mortgage, call Leo.
Debt consolidation/Private/2nd Mortgages
Are bills a problem? Your home may be the key to your freedom from debt. If you are paying off several credit cards at once, or if you have high monthly statements, you can make use of a mortgage for debt consolidation to reduce your payments by more than half.
Reasons to obtain a second Mortgage
- Reduce monthly debt payments
- Have extra cash to spend on other investments
- Purchase a new home for up to 100% of its appraisal value
- Be cautious, high-interest rates are charged due to a higher risk of defaulting.
- Consolidating credit card debts by reducing your rates and payments and converting compound interest into simple interest.
- Repayment amounts are higher than the initial mortgage. If possible, it’s better to use these funds for larger expenses.