Mortgage Renewals or Refinancing in Vancouver, BC Scroll Congratulations on your maturing mortgage… Now let me help you get a better rate! Don’t leave money on the table!Accepting your lender’s renewal notice may be leaving money on the table!If your mortgage renewal is fast, now may be a great time to look at the other mortgage options and competitive rates that are available. Lenders send out renewal forms 4 – 6 months prior to a client’s renewal with about 70% of homeowners sending it back without asking any questions. In today’s busy world, signing the renewal can be the easiest and best route. As with every mortgage we provide, you’ll get at least 3 new mortgage bids from various lenders to compete on mortgage rate, options and mortgage flexibility. Pinsky Mortgages is one of the best mortgage brokers in Vancouver BC. Get in touch with us today so we can show you why. 1,734Files3Pets, 1 Dog & 2 Cats$926,317,000as of August 15, 2022 Should I Break My Mortgage? Ask the expert before you go breaking your mortgage… It may not always be in your interest to break your mortgage. Many mortgages have a small (or large) penalty to fully payoff the mortgage before the end of your term. This penalty may or may not outweigh the interest benefit from getting a new mortgage. Correctly calculating the total costs and comparing between breaking your mortgage and refinancing a new mortgage or keeping your mortgage as is, can be complicated. But don’t worry, we have the technical expertise to help you make the right assessment and educate you as to why one may be better than the other. Mortgage Refinancing Refinancing your home could save you thousands of dollars!While there may be a fee for refinancing your mortgage early (see “Should I Break My Mortgage” page), the savings you may make from taking on a new mortgage with lower interest rates may be worth it. Alternatively, you may need to structure your mortgage differently by adding a Home Equity Line of Credit (HELOC) or increasing the size of your mortgage. That’s why it’s important to reassess your mortgage at least once a year. Renew / Refinance Resources Check out our deep dives in mortgage education and learn how to manage your home. Renew Refinance Resources Read Article 3-Year Fixed vs. 5-Year Fixed vs. 5-Year Variable Category: Education and Learning,First Time Buyer,Home Purchase,Renew Refinance, Article Summary: I would advise going with a 3-year fixed rate over the 5-year rate. I would also heavily explore the variable again while rates are as high as they are. This is going to… Read Article Read Article Economic Update – October 25th, 2023 Category: Education and Learning,First Time Buyer,Home Purchase,Renew Refinance, Economic Update – No Rate Change Expected Summary: Interest rates are expected to stay the same next week as inflation dipped more than expected.On October 25, 2023, the Bank of Canada (BoC) is *expected* to… Read Article Read Article How Much Mortgage Can I Afford? Calculate Your Budget Category: First Time Buyer,Renew Refinance, Understand mortgage calculators, terms, rules of thumb, and more in order to make budget decisions that work for you. Buy the right home! Read Article Read Article Six Good Reasons to Use a Mortgage Broker When Buying a Home Category: First Time Buyer,Renew Refinance, Find out how a mortgage broker can save you money, hassle, and stress. Six reasons why using a mortgage broker is a no-brainer. Read Article Read Article Tenants in Common vs. Joint Tenancy: What’s Right for You Category: First Time Buyer,Renew Refinance, Understand the equity, tax, and control implications of tenants and common and joint tenancy before you buy a home with other parties. Read Article Read Article Understanding the Homebuyers’ Plan: 10 Questions Answered Category: First Time Buyer,Renew Refinance, Is the Home Buyers’ Plan right for you? How does it work? We explain how you can & can’t leverage your RRSP savings to buy your first home. Read Article Read Article Personalized Mortgage Strategies Category: Renew Refinance, Every one of our clients receive a personalized, in-depth Mortgage Strategy Guide. Your personalized strategy guide is created with your personal situation in mind and is also based on your ability to pay down your… Read Article Read Article Are Accelerated Mortgages Worth it? It Depends. Category: Renew Refinance, Faster? Yes. Better? Maybe. What are accelerated mortgages and how do you know if they’re right for you? We answer your questions. Read Article Read Article Interview with Renowned Economist Sherry Cooper Category: Real Estate Agent,Renew Refinance, The sought-after speaker and Chief Economist of Dominion Lending Centres discusses housing, inflation, interest rates, and world events. Read Article Read Article Reverse Mortgage Primer: Life Begins at 55 Category: Renew Refinance, Reverse mortgages allow Canadian homeowners 55 & older to unlock the value of their homes while still living there. Are they right for you? Read Article Read Article 2022 Interest Rates Update Category: Renew Refinance, Eitan sits down with Cheryl from Cheryl Davie Real Estate to discuss where interest rates have been, where they’re going, and what you need to know. In particular, Eitan answers if the anticipated increase in… Read Article Read Article 5 Things to Look For in a Mortgage Broker in 2022 Category: First Time Buyer,Renew Refinance, There’s more mortgage brokers in Canada than ever before.. How do you even tell them apart? Ensure your broker meets these 5 criteria. Read Article Read Article Cryptocurrencies, Blockchain and Canadian Mortgages Category: Renew Refinance, So where is Canada with regards to Crypto and Blockchain? In this article, we will explore a few haphazard topics in a fun way… Read Article Read Article Eitan Answers: Interest Rate Changes, and What Exactly Is Inflation? Category: Renew Refinance, Eitan Pinsky and Adam Clarke talk about what to expect from Canadian interest rates and mortgage rates resulting from that. PLUS, get a primer on what exactly it means that inflation is rising. To hear… Read Article Read Article Important Tips For Debt-Free Holiday Category: First Time Buyer,Renew Refinance, You don’t have to go into debt during the holidays! With a little bit of pre-planning and determination, you can enjoy your holidays and stay out of debt. Here are some tips and tricks for… Read Article Read Article Do Credit Inquiries Affect Your Credit Score? Category: Renew Refinance, You probably know roughly what a credit score is, and that a higher number means good credit and a lower number means bad credit. You probably also know that having a bad credit score can… Read Article Read Article 10 Tips For Paying Off Your Mortgage Faster Category: Renew Refinance, Your mortgage is likely the largest loan you’ll ever take out. No matter how long you take to pay it off, it’s a large monthly expense with a lot of money paid in interest. Even… Read Article Read Article Debt Culture: Canada’s Growing Debt & Credit Problem Category: Renew Refinance, Canada’s growing debt problem is at an all time high. The net debt of the federal and all of the provincial governments combined is forecasted to be $2.0 trillion in the fiscal year 2020/21, nearly… Read Article Read Article The Brexit Effect on Canadian Mortgage Rates Category: Renew Refinance, Brexit and Canadian mortgages – what’s the link, you may ask? How could events on one side of the Atlantic Ocean affect the other? It turns out that the making or breaking of financial treaties… Read Article Read Article Everything You Need to Know About Canadian Mortgage Rates in 2021 Category: Renew Refinance, For the first time in over one year, Canadian mortgage rates are rising. While some home seekers may see the development as bad news, it’s still possible to find good property purchase funding options. A… Read Article