Welcome to Haystax Mortgage
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Renewing your mortgage
Congrats – You’ve made it through a full mortgage term! Did you know that roughly 60% of borrowers simply sign their current lenders renewal offer? These people are missing out on thousands of dollars in potential savings. When you work with a Mortgage Broker, they will compare your current renewal offer to over 200 lenders – to ensure you get the best rate. It’s FREE to have a broker shop rates for you, so why not ensure you are getting the best.
Clients Served
10,000+
Mortgage Products
50+
Broker Network
Nationwide
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Make the switch
Renewal time is the best time to make changes to your mortgage if needed – WITHOUT A PENALTY! So you’ve got options, what’s it going to be?
- Keep things the same but get a better interest rate
- Change from a fixed to a variable (or vice versa)
- Increase your amortization to lower your payments
- Decrease your amortization to pay your mortgage off faster
- Consolidate debt into your mortgage
- Take out equity from your home to pay for a renovation or much more
Our mortgage brokers have access to over 200 lenders. They’ll shop around, based on your unique needs, and find you the best rate. Brokers offer this service for free, so why not get the best rate – it can save you thousands over your next 5 year term.
If you are doing a simple switch, meaning leaving your mortgage amount & amortization the same, then typically it’s free (or cost is covered by the lender). But if you’re looking to change you mortgage, like take out equity, then you may be subject to appraisal & legal fees. Either way, it’s important to line up your new mortgage with your renewal date, so that you can avoid any penalties.
Yes and this is definitely recommend. Sometimes is seems counterintuitive increasing your mortgage to pay off debt, but typically mortgage rates are MUCH lower than unsecured debt (like credit cards 19.99%). Our mortgage brokers will assess if you have enough equity in your home to make this happen and provide you with a fancy consolidation report to show you your savings.
