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What your choices are if your mortgage is renewing and you want to move in the next year

What your choices are if your mortgage is renewing and you want to move in the next year

 

Mortgage Monday: Here are three choices if your mortgage is renewing and you want to move in the next year:

  1. We often recommend converting an existing mortgage into a secured line of credit which is an open loan that gives maximum flexibility.
  2. If you choose a 5-year fixed-rate mortgage, make sure that it is portable so it can be taken to the next house.
  3. Another choice is a variable-rate mortgage because the penalties are the lowest.

The goal is to minimize any penalties and to have maximum flexibility. Contact us to see what is the best fit for you.

Do you have questions about mortgages in Guelph, Kitchener, Waterloo, Cambridge and surrounding areas? Contact us today for help!


 

 

Spring Clean-up with the Mortgage Centre contest

Spring Clean-up with the Mortgage Centre contest

Clean-Up With the Mortgage Centre Contest: Spring is here and it’s never been a better time to Clean-Up. Simply participate in our Mortgage Centre Spring Clean-Up contest. Every day for the next six weeks from May 11-June 8, 2018 we’re having fun sharing our Spring Clean-Up pictures and you can win by submitting your own original caption… Read More

Why use a local mortgage broker in Guelph instead of an on-line brokerage?

Why use a local mortgage broker in Guelph instead of an on-line brokerage?

  Why use a local mortgage broker in Guelph instead of an on-line brokerage? There are so many mortgage options available on-line, but why use a local mortgage broker in the Guelph, Kitchener/Waterloo/Cambridge instead of going on-line? That’s because they’ll understand the local housing market conditions which have a significant impact on your mortgage financing.… Read More

Things to know when buying or selling a home in Guelph, Kitchener, Waterloo and Cambridge

Things to know when buying or selling a home in Guelph, Kitchener, Waterloo and Cambridge

Things you’ll need to know when successfully buying or selling a home in Guelph, Kitchener, Waterloo and Cambridge. Get pre-approval before you list your home – requalify your mortgage. Other considerations are: Job changes Credit history changes Calculate the equity you’ll have Budget to help you keep on track Do a Buy/Sell Calculation Contact us… Read More

Debt Consolidation Plan

When should you consider consolidating your debt with your mortgage and why?

  If you are unable to pay off your debts each month and your total debt exceeds $5000. Interest rates and how they are calculated vary widely. Interest on a mortgage is calculated twice a year A Line of Credit loan is calculated monthly and usually carries a higher interest rate Credit cards are calculated… Read More