View Full Version : Mortgage/ Early Renewal?

05-24-2006, 12:20 PM
A quick question about renewing my mortgage early to lock into current rates. What are the penalties, and is there anything in particular I should look into?

05-24-2006, 12:54 PM
Why don't you phone your bank and find out? Seems like the easiest way.

D. Dub
05-24-2006, 05:02 PM
Exactly, every lender/mortgage is different. If you do decide to switch... pm me... I have a lender that will do a painless switch to a low rate with no lender fees.

05-24-2006, 05:31 PM
If you're renewing ALOT earlier than your maturity date, your current mortgage co. will probably charge you around 3mths. interest. If the penalty is nominal, compared to what you'd be saving with the new lower interest rate, than definitely do it. I also know of broker that can help with with all your questions. He just did one of mine, and will be doing another for me on our other house, and is also a good friend of mine for 15+ years. PM if you'd like his contact info:thumbsup:

05-27-2006, 01:23 PM
my mortgage expires next month with TD, I've never renewed a mortgage so what should I be looking out for? Is my interest rate going to go up, or my monthly payment?

D. Dub
05-27-2006, 02:04 PM
pm me I can likely get you a better rate than the TD will