If your mortgage is coming up for renewal, you must prepare for higher rates. It is not about panicking; it’s about being prudent. Here are three strategies you can implement to get ready: 1. Take advantage of your prepayment privileges and increase your payment amount. You’ll pay down more principal and be accustomed to paying a higher amount at renewal. 2. Watch your bad debt. Be cautious about any credit card or high-interest debt. 3. If you are considering moving to a new home, get a pre-approval to protect you while shopping around. Consider not borrowing the maximum amount your lender will allow. The best thing to do is get advice early. Reach out, and let's determine your best personal strategies to prepare. Contact us ☎️647.453.7969 📩svazhavilla@mortgagealliance.com First time Home Buyers / Commercial / Rent to Own Program / Mortgage Renewal / Refinancing / Home Equity Line of Credit / Debt Consolidation / Second Mortgage / Preapproval / Bad / Low Credit / Self Employed /Construction Loan / 1st, or 2nd Mortgage / Home equity loans / Shared equity Home ownership Program/ Business loans / small business franchises / ******** Truck and equipment financing etc ******* #GTA #Scarborough #NorthYork #Toronto #Scarborough #Ajax #Oshawa #Pickering #Whitby#dreamhome #home #firsttimehomebuyers #firsttime #privatemortgages #homebuyer #mortgage #mortgageexpert #mortgageadvisor #LowestInterestRates #debtconsolidation Ask me for information on home and auto insurance Contact me @ 647.453.7969 for a free consultation. LIC # M12000954 AKAL Mortgages - FSCO Lic. # 10845 Independently owned and operated