Defining Mortgage Switch
A mortgage switch, switch mortgage, or transfer mortgage involves moving your current mortgage from one lender to another without changing anything except for the term and interest rate. A switch is beneficial when you want to take advantage of lower rates in the market without changing any other aspect of your mortgage. Another possible advantage of switch mortgages is that the lender who receives your new mortgage will not only cover the cost of an appraisal if it is needed but they will cover the cost of legal fees to move your mortgage to them. A mortgage broker often negotiates your switch. A mortgage professional will best handle negotiating your switch and endeavour to obtain their clients the best deal.
Switching your mortgage could save you money
Mortgage pre-approvals are offered FREE from Shane and his team (O.A.C.).
Mortgage pre-approval can be obtained prior to contacting a real estate salesperson (REALTOR®). In fact, it usually makes your purchase process go smoother and quicker as you will have an idea of your shopping parameters.
Many real estate salespersons (REALTORS®) will ask if you have obtained a mortgage pre-approval before offering their purchasing assistance to you.
A mortgage pre-approval does not require any commitment or obligation to use the lending terms outlined in the pre-approval, including amount or rate.
A mortgage pre-approval will outline the total mortgage amount you will are eligible to receive (pending final approve) and allow you hold current rates, which can result in savings if rates increase while you shop for your property.
You can get stated on a pre-approval for submitting an application now. Shane and his team understand the real estate market, and how quickly it moves, and will make every effort to quickly complete your pre-approval.
As specialists in home purchases, including first-time home buyers, you have chosen a trusted and experienced team to work with for your mortgage.
Looking to switch your mortgage?
If you’re interested in other lenders may be able to offer and are open to the possibility of switching your mortgage, contact Shane now. He and his team will search hundreds of lenders and negotiate and process a switch, saving you money and time.
Benefits of a Mortgage Switch
You may want to switch now and save thousands of dollars
Receive a free mortgage consultation with Shane and his experienced team to explore your options for switching your mortgage and how you a switch negotiated by them may be able to offer you significant savings with a lower rate and often subsequent lower payments.
My team and I are ready and waiting to serve you with a dedication to the highest standard of excellence. We have been able to offer our clients significant savings by exploring their options and considering the benefits that a mortgage switch may be able to provide. Whether you’re unhappy with your current lender or just looking to have more monthly disposable income, allow us to search our lenders for you now.
― Shane Osmond, Mortgage Professional
Mortgage Switch Process
While Shane approaches each client’s situation and circumstance in the best tailored manner to benefit them and their unique financial situation and goals, we’ve outlined the general path undertaken by our clients obtaining a mortgage switch and are looking to make sure they receive the most savings available to them. While this process may not represent your circumstance precisely, it is meant to be a general guide to understand the mortgage switch process.