Are you making the most of your mortgage?

Not sure? Take some time to revisit your financial goals. If your mortgage is coming up for renewal, now may be the time to switch to BMO.

How do I go about switching my mortgage?

The process is simple. Three months before your mortgage matures, contact a BMO Mortgage Specialist to review your mortgage options. A BMO Mortgage Specialist will help you reassess your financial goals and find ways to better manage your total household debt, taking advantage of the accessibility and flexibility of BMO mortgage financing.

Before you consider the available options…

The one thing we can be sure of in our lives is change. Before switching, it’s wise to re-evaluate your financial situation so that your decisions are based on your current circumstances. For example, are you making more money now than when you initially purchased your home? Or are you on a tighter budget?

Here are some other questions you’ll need to ask yourself:

  • How much longer do I plan to live in my current home?
  • What future life events might impact my plans?
  • Do I want to put money into savings or pay off my mortgage faster? Can I do both?
  • Should I switch my mortgage just as it is?
  • Will I need to access equity in my home in the new future?

BMO makes it easy for you.

A BMO Mortgage Specialist can help you explore your:

  • risk tolerance for fixed or variable interest
  • amortization period
  • payment frequency
  • prepayment options

A BMO Mortgage Specialist can also recommend options to:

  • be mortgage-free faster by using various money-saving strategies
  • be a smarter borrower by using the equity in your home
  • protect your mortgage, family and home by insuring against the unexpected

Whether you want mortgage flexibility, additional funds for renovations, or to be mortgage-free faster, we can help you find the financing solution that meets your needs.


Photo: iStockphoto

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