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Tag Archives: portable

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!