Description

Episode Overview:Your mortgage renewal is coming up—now what? In this episode, we break down everything you need to know to navigate the renewal process like a pro. Our guest, Josh from Mortgage Connections, shares expert insights on avoiding common pitfalls, securing the best rates, and making smart financial decisions when renewing your mortgage.

What You’ll Learn: The Renewal Process: A step-by-step breakdown of what happens when your mortgage term ends. 

Common Mistakes to Avoid: Don’t fall into the trap of blindly signing your renewal offer—here’s why. 

When to Start Shopping for Rates: The ideal timeline to begin exploring your options. 

Impact of Interest Rate Changes: How market shifts can affect your renewal and what to do about it. 

The Role of Your Credit Score: Why your credit matters (and how to improve it before renewal). 

Negotiating vs. Switching Lenders: Pros and cons of staying put vs. moving to a new lender.

 Calgary-Specific Considerations: Local market trends and what they mean for homeowners.

Key Takeaways:

•  Start shopping for rates 4-6 months before renewal to lock in the best deal.
• Don’t accept your lender’s first offer without negotiating—there’s often room for improvement
•  Interest rates fluctuate, so staying informed can save you thousands.
•  If you have a strong credit score, you have more negotiating power.
•  Switching lenders can be beneficial but comes with costs—know the trade-offs.

Josh Higgelke - josh@mortgageconnections.ca