What is a mortgage review?
A mortgage review is done by a mortgage expert like me who will take a look at your current loan balance, your monthly payment, interest rate, taxes, loan term, and mortgage insurance, if any. I can then compare that to your current and future needs to see if you would benefit from making a change.
Benefits of a mortgage review
Depending on your situation, your needs and future plans, it might be possible to
- shorten your loan term
- get a lower interest rate
- eliminate private mortgage insurance (PMI) or
- get cash using your equity in a refinance.
How often should I do a mortgage review?
It’s a good idea to consult with an advisor to keep tabs on your home loan once a year.
With our lives changing and economic and political policy constantly changing, it’s worth it to check in with a mortgage professional yearly to make sure you’re still in the right program for you.
If you review your mortgage, financial and lifestyle needs regularly, you’ll be better able to stay on track with your future real estate goals and dreams.