More Canadians than ever before are spending quality time in their own vacation property
Build your net worth with a beautiful asset while providing you and your family the perfect spot to relax and unwind. Cottages and other vacation properties are providing family memories for many average Canadians, who are taking advantage of low rates and innovative new mortgage products that put these getaway homes within reach!
A mortgage renewal refers to renegotiating your existing mortgage terms with your current lender or switching to a new one at the end of your mortgage term.
It's recommended to start exploring your mortgage renewal options 4-6 months before your current term expires to allow ample time for research and negotiations.
When renewing your mortgage, consider factors such as current interest rates, financial goals, any changes in your financial situation, prepayment penalties, and available mortgage products.
For a mortgage renewal, you may need documents such as proof of income, employment verification, credit score report, property appraisal, and any other relevant financial information requested by the lender.
DLC National can assist you in comparing mortgage options, analyzing your financial situation to find the best deal, and guiding you through the entire mortgage renewal process.