When Mortgage comes up for Renewal.
your mortgage is up for renewal. Many people make the mistake of renewing with their current lender. Most of the time the lender will never offer you a competitve rate. A mortgage broker can shave thousands of your mortgage by seeking a much better rate and product. Always talk to a Mortagae Professional.
Rob Fuccenecco 250.830.8232 fugi@telus.net
www.campbellrivermortgaegbrokers.ca
Peak Mortgages - NI Mortgages
If you have a secured line of credit on you home and you want to purchase a second home that may now affect you. Some of the lenders are now debt servicing the limit on your secured line of credit. example if you have a 200,000 secured line of credit and only own 15,000 on it, the lenders will qualify you on the full 200,000 whether it is used or not. Many banks push lines of credits onto clients. The questions is, how can that affect you long term. Lines of credit are getting people into a high debt situation where they are only paying the interst not the principle balance. Line of credits should be used with caution. Tempation is always there to use it, without paying the principle balance off in a timely fashion.
For more qeustions contact me
Rob Fuccenecco 250.830.8232 fugi@telus.net
www.CampbellRiverMortgages.com