Tips to Renew Your Mortgage.
Get the most out of your mortgage with terms that fit your lifestyle.
connectFirst has market-leading mortgage solutions that help our members save money and gain peace-of-mind over one of their biggest investments: their home. Our friendly and knowledgeable staff are committed to helping you navigate through this period.Let's connect
Here are a few things to consider as you research your options for your mortgage renewal:
Renew early, without penalty
You can renew your mortgage with us up to 120 days before the maturity date without penalty. This can give members more flexibility in terms of timing your mortgage renewal, and ensure you don't miss lower rates if they start to rise.
We’ve got your back
Talk to us early on. If we connect early, we could hold a rate for you for up to 120 days leading up to your maturity date. Not all mortgages work the same, and this will give you extra peace of mind to explore your options and find the right solution for you.
No applications required
When you renew a connectFirst Credit Union mortgage, you don’t need to “reapply” or “re-qualify.” The process is straightforward and saves you from having to go through the process of reapplying for a mortgage.
The 3 step process to renew:
Consider your goals.
Though renewal requires some deciding, it’s a great opportunity to review what financial priorities and aspirations you have for the future:
- How has your financial circumstance changed since you got this mortgage?
- What are your biggest financial goals today?
- Are you planning on selling or moving in the near future?
- Does a fixed or variable rate make more sense for you? If you’re not sure or are indifferent, our experts can help discuss the differences.
- Are there home improvements or renovations you would like to do? Would you use savings or need to borrow the funds?
- Do you have other debts at higher interest rates that you could save money on?
Chat with Experts.
We have mortgage renewal experts available in person, over the phone, through a video chat, or by email that are committed to putting you first. We can discuss your plans and review the different mortgage options with you to help you make your confident, informed decision — especially if interest rates may be higher than usual. If you want to consider options and wait, we can hold you a rate to ensure you have the time necessary to decide.
Use this period to your advantage! Once you’ve reviewed what’s important to you, discussed with us to consider your options, and taken the time needed to weigh your options, it’s time to make a decision!
It's important you connect with us prior to your renewal date to ensure you're getting into the right mortgage product. If we aren't able to reach you before then, we will automatically roll your mortgage into an open product. Typically, rates are higher on open mortgages so we'd love to have a conversation before this happens to see if there's a different option that's better suited for you.
We’d like to find out what matters most to you.
Get in touch with one of our experts early in the process to take advantage of the many benefits of renewing your mortgage with connectFirst. Our experts will take the time to get to know your unique needs, discuss your plans for your home and explore your renewal and refinancing options.