And we got Glasses!
  
Aside from the renos going on at our new home this month, the big development in the Yool household came about two weeks ago at the Optometrist. On the recommendation of his teacher, we made an appointment with the Eye Doctor for our oldest, Dean. Sure enough, in spite of having seen her back in late August just before school started, his vision had deteriorated to the point that he now holds a perscription for both near and far sightedness.
As they all grow, I realize more and more that there's never a dull moment when you have four so close together. With that said, although I may be biased, I feel like this development sure had a pretty handsome little outcome :)
What Do I Do When My Mortgage Is Up For Renewal?
Frequently I have clients call to tell me that their mortgage is up for renewal at their bank in the next 4-6 months. The bank is "allowing" them to renew early at a certain rate, but they want to know if they are getting a good "deal".
Here are a few things to think about when your mortgage is up for renewal:
- Do you have any credit cards or loans you would like to roll into your mortgage?
- Are there any reno projects on the horizon within the next 1-3 years?
- Do you have plans to move, or maybe buy an investment property in the next few years?
- How does your existing lender calculate mortgage penalties?
And probably most importantly, remember that you have time! Don't assume that you're receiving some type of a preferential rate because you're an existing customer. Ask questions, find out your options, and speak to a Mortgage Professional who will actually tell you if what you're being offered is competitive. Never think twice about giving me a shout; I'll tell you if the interest rates you're being offered are really decent, abysmal or somewhere in between. Sometimes it makes sense to look elsewhere, sometimes it doesn't - if it doesn't make sense, I will tell you. In my business it's far more important to lose the battle than it is to win the war. At the end of the day, I want happy, satisfied clients who will tell their friends and family about the job I did for them, so I strive to provide advice accordingly.
What is "Loan to Value" Anyway?!
When dealing with mortgages, whether you're buying a home, or taking equity out of your existing one, loan-to-value is crucial. The article below explains what you need to know in simple terms.
As in many matters of finance, there are exceptions, special cases, and sometimes other nuances that can affect a particular situation, so if you have questions or simply want to explore your personal situation further, don't hesitate to send me a note, and we can plan a time to review your situation in greater detail.
READ MORE here: https://homeequitysolutions.ca/blog/Loan-to-Value-Explained
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