13 days ago
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So you bought your home when rates were low, and now your mortgage is up for renewal and you’re worried about whether you’ll be able to afford your payments now that rates have jumped? This is a very common concern for so many Canadians right now.
It is expected that 2.2 million mortgages will be up for renewal this year and next.
For many because of current interest rates, this means a likely jump in their monthly payments.
If you are stressed about this likely jump in your payments, there is a simple option that may be available to you.
This option is called Re-amortization.
Swipe to see a realistic renewal example and how choosing to re-amortize your mortgage instead of simply renewing can make a significant difference in your overall budget.
Have you received a renewal offer from your lender? Reach out for an expert review of this offer before signing on the dotted line!
Cody Rowe 📲 (778) 350-ROWE (7693) 📧 codyrowe@dominionlending.ca Dominion Lending Centres | Modern Mortgage Group
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