Unfortunately, no – you can’t return your mortgage like a pair of jeans that didn’t fit. But, the good news is, with a free mortgage checkup, you could save big in 2025!
Your mortgage is likely your biggest financial commitment, so wouldn’t it be great if you could make adjustments to get a better deal? While you can’t return your mortgage, many homeowners don’t realize that there are ways to optimize it and even save money.
Here’s why you should consider a quick, free mortgage checkup:
1. Lower Your Mortgage Rate
Over the past year and a half, mortgage rates have come down from the high 5% to low 6% range. I’ve helped several clients lower their mortgage rates by moving to a new lender. Yes, there may be a small penalty, but it could result in a lower rate and smaller monthly payments.
2. Make Adjustments to Your Mortgage
Do you know about porting, pre-payment options, or changing payment frequencies? Understanding your mortgage terms could help you save on interest or avoid costly penalties. Small adjustments could make a big difference in the long run.
3. Consolidate Debts & Save
With consumer debt at a record high of $2.5 trillion, consolidating high-interest debt into your mortgage could save you a lot of money—and improve your credit score. Just last week, I helped a family save $1,800 a month (that’s $21,000 a year) by consolidating high-interest debt into their mortgage.
4. Use Your Home Equity
Your home equity can be a powerful tool for funding important goals like education, investments, or even purchasing an investment property or secondary home. It’s worth exploring how you can tap into that equity to help you achieve your financial goals.
5. Plan for Life Changes
Are you planning to downsize, upgrade, or buy your first home? It’s a good idea to get pre-approved now so you know what you can afford before the spring market heats up. Having your financing lined up in advance can give you a head start when the time comes.
6. Stay Ahead of Rule Changes
Recent changes in mortgage rules (such as the increase of insured mortgages to $1.5 million on a 30-year amortization) could make it easier to get into the market. Staying ahead of these changes can help you make smarter decisions in 2025.
Make 2025 the Year of the Mortgage
Are you planning to buy your first home, upgrade to your next home, invest in a secondary property, or secure an investment property in 2025? If so, now is the perfect time to start the conversation. If you have debts to manage or a mortgage maturing in 2025, don’t wait until the last minute—let’s get ahead of it together. Reach out today to discuss your options!