Mortgage Renewals

Your mortgage renewal is based on the term you picked at the time you did your mortgage last. When your mortgage term comes up for renewal this means you have to renegotiate your term and rate at the current rates.  Reason to contact us 120 days prior to maturity is to take advantage of our professional monitoring of the current rates that you pay receive vs settling for your current lenders rate offered. We review what your current financial situation is and we go find you a product and rate to suit your needs and goals. You would not want to wait for the renewal date and then be subject to renew at the current lender which is usually higher than our discounted rates.  Most lenders do not give you their discounted rates on any renewal. Let us negotiate for you.

Canquest Mortgage will revisit your total financial situation - reasons:

1. you may want to take equity out to consolidate some debts and free up your cash flow.
2. you may want to increase your payments and do a financial plan to pay down your mortgage faster.
3. you may have to free up your cash flow in order for you to start making a savings plan for your TFSA, RESP, RRSP or saving for a trip.....

Your financial institution may not be able to give you the best renewal rate. We deal with many lenders so we have access to more rates including the quick close rates. We also review mortgage products offer to suit your needs. We make sure you are getting the best discount with the best product. There are some lenders who have different exit strategies which you should be made aware of so you do not have any surprises when it comes to payout your mortgage. Mortgage Brokers usually get deeper discounts than the banks would offer their current clients.  At Canquest mortgage we look at your credit package and can advise you what is available.

Remember that there is no cost to you to switch your mortgage to another lender. The lender pays up to $1000 towards the costs of switching over the mortgage. Get Canquest Mortgage working for you so we can give you the piece of mind you deserve in knowing that you made a sound mortgage decision.

Mortgage Renewals

Is your mortgage coming up for renewal? To find out what your best options contact your mortgage broker before your mortgage matures to determine your options.

When your mortgage is coming up for renewal with your Lender they will send you out a renewal notice between 90 to 120 days prior to the term of your mortgage. They will offer you posted rates on your renewal. You should at that time call your mortgage broker or Canquest Mortgage to assist in what is your best option at the time or should you wait.  Also, this is a good time to see if you want to take any equity out of your mortgage and do a refinance vs. a renewal. The general mortgage client will sign the renewal without having a Broker review what is out their to meet your mortgage needs. Canquest Mortgage will investigate and assist with thier expertise and resources so that you can take advantage of the competitive mortgage rates. Canquest Mortgage can get you a 120 day rate guarantee on your mortgage renewal so if rate go up you are protected and if they go down you will get the lower rate at that institution. It's a win, win situation. Your financial institution may not be able to give you the best renewal rate, but as we deal with over 20 leading lenders Canada wide, we can find you the lowest rates on the market! Canquest mortgage will find you the best rate possible with the broker rate discount of 1.0 to 1.75% off bank posted rates. The traditional bank policy is to discount you .10 to .75% off their posted rates but it all depends on how much of your personal investments are with that bank and how high of a net worth. At Canquest mortgage we look at your credit worthiness and job stability. Remember that there is no cost to you to switch your mortgage to another lender. The lender pays up to $1000 towards the costs of switching over the mortgage. Get Canquest Mortgage working for you so we can give you the piece of mind you deserve in knowing that you made a sound mortgage decision.