Fred Photo

By Fred Knowles

Time for a Mortgage Checkup?

It’s one of those things that is so easy to brush off and “do it later”. After all, it’s difficult enough for many people to arrange their next doctor or dentist appointment. That’s not to say staying updated on your mortgage is as important as managing your health, but here are a few reasons why checking in every so often should always be top of mind:

It’s FREE!

  • This is all part of the experience working with a Mortgage Agent. We work to find opportunities to save you money.

Has Your Situation Changed?

  • What’s happened over the past year or two? Did you take on a renovation project? Take a trip? So many events can come up where you increase the balance on your credit cards or line of credit. It makes little sense carrying high interest debt when you can roll that up into your low interest mortgage. When people see firsthand how much they can lower their total monthly costs, they’re often very surprised.

Your Bank Branch WANTS You to be Comfortable

  • If your mortgage was set up through the branch level, would they ever want you to be filled in on the best rates on the market? Would they give you unbiased advice on optimizing your cashflow? HECK NO.

Your Renewal Offer is (probably) Terrible

  • Almost all banks are known for this, not just the “big 6”. It’s crucial to review your options when your mortgage is approaching maturity. Banks too frequently rely on hoping you take the easy route and sign the dotted line.

A good Mortgage Agent will work with you for the life of your mortgage. There are times in life, and in the financial market when an updated plan can save you more than you think. If you have an existing mortgage and you think it’s time to take a closer look, book a time to meet and see how much you could save.

Fred Knowles

Dominion Lending Centres – The Mortgage Source


About The Author

Leave a Reply

Your email address will not be published.