Save by using a Mortgage Broker – Real life example

Posted by Maury Lum on December 23rd, 2008 | No Comments

Real life situation, just happened yesterday. I am working with my client to renew their mortgage. Straight forward situation and triple “A” client. We are going into a great 5 year fixed rate mortgage. The existing bank where their mortgage is at sent them a renewal package with an interest rate 0.41% HIGHER than what I was able to get them. For this situation it translates into an immediate savings of $55 per month (for monthly mortgage payments). So, over 5 years or 60 months, that is a combined savings of $3,272 just in payments, not to mention a lower balance at the end of term.

This highlights just one of the advantages of working with me in that we are always working for you and in your best interest, no pun intended .