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Update to Mortgage Renewals

Mortgage Advice

October 07, 2024•1 min read

📣 Big news for homeowners 🏠 … mortgage renewals have been made easier! 👇

An update in the mortgage space regarding #MortgageRenewals:

You no longer need to worry about having to pass a mortgage stress test when renewing with a new lender! 🙌

The Office of the Superintendent of Financial Institutions (OSFI) has dropped the requirement for the stress test on straight mortgage switches.

That means, if you’re simply renewing your existing uninsured mortgage with a different lender (because they offer a better rate, for example) but are keeping the same loan terms, you’re good to go – no need to requalify! 💪

This change opens up more options for homeowners, making it easier to find a better rate or service without extra hassle.

👉 So, if you’re looking to explore your renewal options – you can do so with less stress.

And best yet – I can do it all for you! I have access to dozens of lenders, which means you have options when you work with me.

Feel free to reach out – I’m here to help with your #mortgagerenewal and save you money! 📞📩

Leanne Funston
The Place To Mortgage - Mortgage Alliance

📧 [email protected]
☎️ 250-320-5514
🖥 www.leannefunston.ca

Book a FREE Mortgage Consult 👇
📅 https://calendly.com/leannefunston

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#Homeowners #StressTest #MortgageSwitch #CanadianMortgages

Leanne Funston

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Trusted Guidance, Proven Success

Erin B. & Kodi N.
100 Mile House

I highly recommend Leanne. We just bought our first home and has been absolutely fantastic. Leanne had answers to every single one of our questions and is super patient. She walked us through step by step and really help calm my anxieties about buying. She got us a great mortgage rate. I have nothing but good things to say about Leanne, she’s amazing!

Chapail Rua - Quesnel

I was purchasing a property on my own without any experience
and Leanne walked me through every step with grace and professionalism. She was very responsive and informative and sought out the answers to my questions if she didn't know off hand. She was also very patient with me as I went through the emotional rollercoaster that purchasing property can be. I am very grateful for her help and I highly recommend her.