Is your mortgage term nearing its end? Here at Siga Financial, we help homeowners easily renew or switch their mortgages. Our team of skilled financial advisors navigates Canada’s mortgage landscape to secure you competitive rates and flexible terms. We handle the paperwork, negotiate with lenders, and provide personalized advice to ensure your mortgage renewal or switch best aligns with your financial goals.
What Does It Mean to Renew or Switch Your Mortgage?
When you renew your mortgage, you are extending mortgage terms with your current mortgage holder. In Canada, most mortgages require monthly payment amounts and you will need to continue renewing your mortgage at the end of each term unless you pay the balance in full. Renewing your mortgage is a great opportunity to make changes to your mortgage product, term length, interest type, and other outstanding features. When it is time to renew your mortgage however, you have several options:
Benefits of Renewing or Switching Your Mortgage
Renewing
The primary benefit of renewing your mortgage is the added convenience of staying with the same lender. There may also be potential loyalty perks or premiums your lender offers for staying with them term over term. Plus, mortgage renewal is often quicker than switching lenders, and it usually involves fewer affordability checks.
Switching
If you’re not happy with your current lender, perhaps a different bank has a lower rate or a mortgage product with terms that better suit your financial needs. When you switch mortgage lenders, you have access to competitive interest rates and you can customize your mortgage terms such as the interest rate, payment flexibility, amortization, loan term, or type of mortgage.
In either case of renewing or switching your mortgage, you can find cost-saving solutions or better financial alignment.
Factors to Consider When Renewing or Switching
There are many factors to consider when renewing or switching your mortgage, including:
Take the First Step Toward Your Dream Home
We are here to guide you every step of the way!
Why Choose Siga Financial?
With Siga Financial, you will have access to multiple lenders and can choose from a wide range of mortgage products at competitive rates. Our licensed mortgage specialists will advise you on the best personalized renewal strategies.
We deliver expert guidance whether you are renewing or switching your mortgage, and the application process is stress-free. We handle all paperwork and negotiations making for a smooth, effortless experience.
How the Process Works
Start Your Mortgage Renewal with the Best Rates for You
Whether you’re renewing for the first time, have renewed before, or looking to switch your mortgage, our professional team is ready to help you secure the best rates and terms to meet your financial goals.
Contact us today to speak with a Siga Financial mortgage advisor and get ready to take the next step in your mortgage journey.