Trick question - it's always a good time! (See what I did there? 😉)
Listen, I know that once you've got your mortgage sorted, it's easy to put it on the back burner and forget about it. But trust me, you don't want to ignore it for too long. That's why I recommend reviewing your mortgage at least once a year to make sure you're not missing out on any opportunities to save some serious dough.
Here are just a few reasons why reviewing your mortgage is a smart move:
First up, let's talk about outsmarting your renewal. If you're in the middle of a 5-year low-rate term, you might think you're set until renewal time rolls around. But don't be fooled! Most lenders will send you a renewal offer right before your term is up and, more often than not, it won't be the best rate available. That's where working with a trusted broker comes in. By taking the time to shop around and find the best possible mortgage for you, you could save yourself thousands. That's money you could use to spruce up your home, take a well-deserved vacation, or buy a year's supply of avocado toast. (Hey, I don't judge.)
Another benefit of reviewing your mortgage? Accessing cash sooner. I know, I know - nobody likes to think about the rainy day fund. But trust me, it's always better to have one and not need it than to need one and not have it. If you've been considering refinancing to free up some cash flow, now's the time to take a look at your mortgage and explore your options. That way, you'll have a financial safety net in place before you actually need it.
Last but not least, let's talk about restructuring your mortgage payment. Look, life happens. Maybe your financial situation has changed since you first took out your mortgage, and your current payment is feeling a little too steep. That's where a little restructuring could come in handy. The mortgage landscape is always evolving, and there might be a new option out there that could save you some serious cash.
So, my friends, think of your mortgage like your car. You could wait until the "check engine" light comes on to bring it in for maintenance, but that's not the smartest move. By checking under the hood from time to time, you can catch any potential issues before they become major problems. And that means more money in your pocket - which is always a good thing.
Thanks for reading, and remember: Review your mortgage today, and keep those finances running smoothly! Oh, and if you need a little help finding the best possible mortgage for you, head over to our quick link SECOND LOOK www.portcreditmortgages.com. I'll hook you up - and I mean that in the least sketchy way possible. 🤣