Refinance Mortgage Mississauga, ON
When shopping for a new mortgage, most borrow look at just the interest rate. As the old saying goes, “Cheap is not always good and good is not always cheap.” The most important document for your mortgage is called the “Standard Charge Term”. This is the 10 to 20 pages of fine prints that you signed at the lawyer’s office. For some whom the bank told them lawyer’s fee is paid by the bank, they simply signed at the branch. Not know what they have signed. Another old saying goes, “the devil is in the fine print.”
The only way to get out of unfavorable fine print is to go to a new lender when possible. If you do not need more money, just take the same amount to a new institution, this is called a “switch” or a “transfer.”
If you need to increase the mortgage amount, it becomes a refinance.