Mortgage Renewal

Renewing your mortgage is as important a financial decision as selecting your first one. While renewing your mortgage, you are in a stronger financial position as compared to where you were before. Your home equity grows over a period of time and by decreasing your principal loan balance, you are in a good position to negotiate. However, many prefer to just sign their existing agent’s mortgage renewal form without trying to get a good deal on the new mortgage. This results in a higher rate and a mortgage package that does not cater to your individual needs.

 
There is the "switch program", a new lender will hold your rate for 120 days prior to renewal, while your existing lender may only offer you a rate hold of 55 days, and majority are offering only 30 day rate holds, protect your renewal rate.  Under the "switch program" the new lender will pay for legal and appraisal fees.  Therefore, straight renewal balance under the "switch program" no cost to you and offers 120 day rate hold.  Do not wait for your renewal agreement, contact me 4-5 months prior to your renewal date and protect yourself. 

With my expertise in the Canadian mortgage industry, I can help you get the most out of your mortgage renewal. Pay off existing debts, clear high-interest credit card bills, renovate your home and do a lot more after renewing your mortgage. Just fill in this short application form and I will help you find the best terms for your mortgage renewal.

Mortgage Details

Purpose/Type of Loan:* Value of Home:*    
Mortgage Amount Required:*     Funds Required On:
Down Payment:   Credit Confirmation:
Do you have a real estate agent?:

Primary Applicant

Personal Information
First Name:*   Last Name:
Email:*   Marital Status:
S.I.N: Age:
Date of Birth: Phone Number:*  
Address Info
Present Address: City/Town:
Province: Postal Code:
Residential Status: Mortgage Payment/Rent:  
How Long at Present Address:
Previous Address
Employment Information
Current Employer: Position:
Occupation Type: Industry Sector:
How Long at Present Employment: (Years) Phone:
Monthly Income:   Employer Address:
Years in Line of Business: Type of Income:
Other Income Source: Other Income Amount:  

Co-Applicant

Personal Information
First Name: Last Name:
Marital Status: S.I.N:
Phone: Age:
Date of Birth:
Address Info
Present Address: City/Town:
Province: Postal Code:
How Long at Present Address:
Previous Address
Employment Information
Employer: Position:
Occupation Type: Industry Sector:
How Long at Present Employment: (Years) Monthly Income:  
Phone: Employer Address:
Years in Line of Business: Type of Income:
Other Income Source: Other Income Amount:  

Property Information

Unit #: Street
City Province:
Postal Code: Property Age:
Type: Dwelling Style:
Livable Area:   Units:
Lot: Width:  X  Depth:  Units:
Garage Type: Garage Size:
Estimated Property Taxes:   Estimated Monthly Heating:  
Estimated Monthly Condo Fees:   Occupied By:

Financial Information

Assets
Type Where/Financial Institution(s) Amount / Value
Cash Savings   Cash in Bank
Deposit on property being purchased (if applicable)   Deposit on Property
Automobile Present Value   Automobile Present Value
Value of Present Home (if owned)   Value of Present Home
Stocks, Bonds, Mutual funds etc.   Stocks, Bonds, Mutual funds
RRSP's   RRSP's
Others   Others
Total Amount:
Liabilities
Type Where/Financial Institution(s) Balance Owing Monthly Payment Help
Debts / Loans     Debts / Loans
Credit Cards     Credit Cards
Owing on Automobile     Owing on Automobile
Amount owing on current mortgage(s) - 1     Amount owing on current mortgage(s)
Amount owing on current mortgage(s) - 2     Amount Owing on Current Mortgage(s)
No. of Current Mortgage(s) No. of Current Mortgage(s
Finance company loans and other debts     Finance company loans and other debts
Alimony / Child Support   Alimony / Child Support
Total:
Net Worth (Total Assets - Total Liabilities):  

Additional Comments


Privacy Statement

I/we warrant and confirm that the information given in the mortgage application form is true and correct and I/we understand that it is being used to determine my/our credit responsibility. You are authorized to obtain any information you may require for these purposes from other sources (including, for example, credit bureau) and each such source is hereby authorized to provide you with such information.

I/we also understand that the information given in the mortgage application form as well as other information you obtain in relation to my credit history may be disclosed to potential mortgage lenders, financial intermediary and mortgage insurers, organizations providing technological or other support services required in relation to this application and any other parties with whom I/we propose to have a financial relationship. Online Applications Please read the paragraph above prior to sending completed application.

By transmitting the online mortgage application you are accepting the terms of the paragraph noted above.