PREFERRED CliENt - Millennium Mortgage Group

Preferred Client
Working Hard to Keep You Informed
No. 1 2015
Dear Valued Client,
Important Information to know about Renewing or Refinancing your Mortgage
Early Renewals
Keep this idea in the back of your mind. You can decide when it’s the best time
to renew your mortgage, even if it’s before the maturity date. Sometimes, the rates
have dropped and paying a small penalty to escape your contract is more valuable
than you think. If you can save on the interest rate, this can compensate for the
penalty paid and/or also help save on the amortization and monthly payment amounts.
Renewing your mortgage is the ideal time to reassess your borrowing needs and
choose the right mortgage, term and payment option to suit your lifestyle today.
Refinancing Your Mortgage
Your home is likely your most important financial asset. Refinancing your mortgage
can allow you to take advantage of any equity in your home to:
Heather Manna & Jacki Harris
Managing Partners & Mortgage Brokers
Keep Calm and
Mortgage On
[email protected]
[email protected]
䡲 Help cover the cost of home renovations;
䡲 Consolidate Debt;
䡲 Pay for a child’s post-secondary education; or free up funds for investments;
䡲 Add your new spouse to the mortgage and title;
䡲 Apply to remove an old co-applicant; And many more possibilities!
Before selecting the best rate on your renewal document, take this time to
contact us and allow Millennium Mortgage Group to shop the market for you.
More often times then not, you will receive more competitive pricing when
transferring your mortgage to a new financial institution upon your Renewal.
Depending on the Lender, sometimes they will also pay for all of the associated
transfer fees, in addition to beating the current lenders rate offer.
If you take the time to review your renewal agreement, it could shave years off your
amortization, reduce your monthly payments significantly, OR BOTH!
Contact MMG and together we’ll look at how you can lock in to a new rate and
term to better meet your Financial needs.
Heather and Jacki
What rate is your bank offering you?
We have 5 year fixed rates as low as 2.84 - 2.99% with MMG. Well below the National average. According to a new
survey released by the Canadian Association of Accredited Mortgage Professionals (CAAMP) the average mortgage
interest rate in Canada this year was 3.24%. The survey also indicates that 85% of Canadians have 25% or more
equity in their home. Apparently we don’t want to stay in debt forever, as 38% of Canadians increased their monthly
payment amounts or made a lump sum payment. Yet, 11% of homeowners took equity out of their home, with the two
main reasons being debt consolidation and renovation.
113, 1013 17th Ave. SW
Calgary, AB T2T 0A7
Heather & Jacki’s
Preferred Client Update
113 - 1013 17 AVENUE SW
Preferred Client Update • Working Hard to Keep You Informed
The average
mortgage rate
in Canada
is 3.24%,
what’s your rate?
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