Access to Multiple Lenders
We compare renewal offers from a network of banks, credit unions, and private lenders.
Is your mortgage term nearing its end? While renewing with your current lender may seem convenient, it’s not always the best financial choice. At XLG Mortgage Group, we help you explore different mortgage renewal options to secure the most competitive terms.
A mortgage renewal gives you the chance to renegotiate interest rates, payment terms, and lender options. Our team ensures that your new mortgage aligns with your financial goals and saves you money.
A mortgage term typically lasts between one to five years. When it expires, if there’s still a remaining balance, you must renew your mortgage or pay off the outstanding amount. A renewal allows you to secure better terms for the next phase of your loan.
Renewal time is an opportunity to:
Instead of simply signing your lender’s renewal offer, it’s crucial to explore your options to maximize savings.
Our goal is to make your renewal process as smooth and beneficial as possible. Here’s how we work with you:
We evaluate your current loan terms and financial goals to see if your existing mortgage still suits your needs.
We search for the best rates and terms across various lenders, ensuring your new mortgage aligns with your goals.
After reviewing available offers, we present the best options for your next mortgage term.
Many homeowners automatically renew their mortgage without comparing offers. However, shopping around can result in lower rates and better terms. Here’s why XLG Mortgage Group can help:
Access to Multiple Lenders
We compare renewal offers from a network of banks, credit unions, and private lenders.
Customized Solutions
Your financial situation may have changed, and we tailor mortgage options accordingly.
Competitive Rates
We negotiate the most favorable interest rates on your behalf.
No-Obligation Review
We analyze your current mortgage and renewal options before you commit.
Our goal is to help you secure the best possible mortgage renewal for your financial needs.
Most lenders send renewal offers 120 days before your term ends, but that doesn’t mean you should accept their first offer. Comparing lenders can provide several advantages:
Lenders often adjust their rates, and a better offer may be available elsewhere.
You can adjust your amortization period, payment schedule, and prepayment privileges.
Sticking with your current lender isn’t always the best choice. Exploring different lenders may unlock better deals.
If you’ve built up equity, you may qualify for refinancing options that allow you to access funds for home improvements, debt consolidation, or investments.
At XLG Mortgage Group, we guide you through all available options to find the best renewal terms.
If you don’t take action before your mortgage term ends, your lender may automatically renew it, but this might not be ideal. Potential risks include:
To avoid these issues, it’s important to review your mortgage renewal options early and secure the best possible deal.
Yes, in some cases, a bank may decline your mortgage renewal, especially if:
If you’re facing renewal difficulties, XLG Mortgage Group works with a wide network of lenders to ensure you have options. Even if a traditional bank declines your renewal, alternative lenders may still approve you.
Ready to take the next step toward securing your mortgage? Reach out to XLG Mortgage Group today for a consultation. Our experts are available to answer your questions, discuss your financial goals, and help you find the mortgage product that best suits your needs.
+1 905-206-0090
+ 1 833-932-0012
info@xlgmortgagegroup.com
5250 Solar Drive, Unit # 208,
Mississauga, Ontario, L4W 5M8
207-460 Hespeler Road,
Cambridge, ON, N1R 0E3
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