At Lisa McInnes Verico Paragon Mortgage Inc, we approach the renewal process a little differently from other brokers. Why? Well, because relationships matter. If a client has been happy with their Lender and has honored the original agreement by avoiding late payments, we think that relationship is worth preserving – particularly because both parties have proven their ability to work together.
However, benefits should follow positive collaborations. The renewal period is an appropriate time for the Lender to offer Borrowers a better rate. Mortgage Broker Lisa McInnes prepares her clients for these discussions by providing coaching on how to approach current Lenders to discuss offers. With the Borrower’s permission, Lisa can even lead negotiations. If the Lender offers new rates, Lisa then advises the Borrower on whether or not the updated contract is favorable.
In scenarios in which a Lender offers a subpar renewable, it is often best to move one’s mortgage to another Lender. In this case, Lisa and the Borrower discuss the Borrower’s financial goals. This is another way that Lisa McInnes of Verico Paragon Mortgage Inc differs from other Mortgage Brokerages as future plans are often an overlooked factor in the mortgage renewal process.
Frequently Asked Questions about the Mortgage Renewal Process
The best way to get started is simply to pick up the phone or send an email. Get in touch with Lisa and she’ll get you on the path to move forward immediately.
Hey, life happens! Perhaps you, like many, experienced uncontrollable circumstances due to economic recession or the current Covid19 Pandemic, or maybe your family situation has changed. In this case, Lisa and the Borrower will recheck eligibility strengths. If the Borrower still qualifies and is still able to make their mortgage payments on a consistent basis, then there’s no problem – we should be able to find you a great deal. If there has been a significant impact on your income or credit, however, then it does give the Borrower less leverage. In this scenario, it may be best to simply stay with the current mortgage (but Lisa will discuss that with you as well!).
Yes! Keep your credit score strong by making sure all payments owed are made on time and ensure that you never surpass your credit limit on cards. Remember that even a skipped phone bill can hurt your credit score. Also do your best to keep your income consistent, and ensure any outstanding property taxes are paid in full.