2022-04-11 | 08:51:22

Annual Mortgage Check up

Spring is a great time to consider doing an annual mortagge check up.

Organizing a quick mortgage review each year can help provide peace of mind and ensure you are on track to your future goals while still ensuring you're able to manage the monthly payments. With interest rates on the rise, a mortgage check up is a great opportunity to review your current situation and potential options, including taking a look at your current mortgage rates and terms. This is also a great time to look at your payment frequency for potential savings, such as moving to an accelerated bi-weekly plan vs monthly (or vice versa if you are looking to free up cashflow or findign it difficult to meet your current payments. On the other hand, if you have extra savings you want to pay down your mortgage, this is a good time to review your pre-payment priviledges to do an annual lump sum payment of 15-20%, or increase your monthly payment amount to get your mortgage paid off more quickly. 

Overall, your annual mortgage check up is a great opportunity to touch base and discuss any life changes, your current situation, and future goals to ensure that your mortgage continues to work for you and gives you peace of mind all year long.

Reach out to arrange a time for your mortgage check up: myhang@myhang.ca