Ponderhill Mortgages · Kamloops, BC
Signing your lender's renewal is only one of your choices. I set it next to what a switch would involve, early enough that you can still pick. One broker, one office, calls on Saturday mornings.
When to start
A renewal can feel far off until the last few weeks, and those are the worst weeks to compare. This is how the months before your term ends tend to run.
120
Your lender's offer may already be in the mail or in your online banking. Note the date your term ends and call me. Nothing to sign yet.
90
I put your current terms and the offer on one page, with the costs of a switch next to them, and we list what to ask your lender.
60
If a switch deserves a closer look, there's still room: a new lender needs time for an application, and sometimes an appraisal.
30
You pick: the renewal, or the new mortgage papers. A month leaves room for the questions that come up at signing.
0
Your term ends and the next one starts. If nothing is signed, your lender's letter and your contract say what happens, so read that part early.
Timing is a guide. Your lender's letter and your mortgage contract set the real dates, so check them first.
Stay or switch
Both are normal ways to renew. Each comes with its own paperwork and its own costs, and I lay them out in the same order so you can compare.
What to have ready
Dig these out before we talk and the first call can be short. If anything else is needed, I'll say so.
It comes from your lender, by mail or in your online banking. Keep every page, including the fine print.
It's on your latest mortgage statement or in your online banking. A rough number is fine for a first call.
The most recent one for the home. Your municipality sends it each year.
Dana
Mortgage broker
Who I am
I'm Dana. Ponderhill is a small office in Kamloops with one broker in it, and that's me. Most of my work is with homeowners whose term is ending and who want to know whether to sign their lender's renewal or switch. Now and then it's a refinance, or a purchase for a local family.
I like to start early, because a choice made with months in hand is a calmer one. I lay out staying and switching in the same order, costs included, and you decide. Saturday mornings are for calls, since plenty of people can't talk during the week.
Lending like that goes to people who do it, and I'll say so on the first call. Tax and legal questions go to your accountant or lawyer, and I'm glad to work from what they tell you.
Where I work
Phone and email cover the whole area. The office is in Kamloops, and visits there are by appointment.
Pacific time.
214 Ponderhill Row, Kamloops, BC
FAQ
As soon as the renewal letter arrives, or a few months before your term ends if you know the date. Early is easier: there's time to compare and to ask questions with no deadline closing in.
No. Signing your lender's offer is a normal way for this to end, and the side-by-side page shows it plainly if staying makes sense for you.
It can. Legal fees, an appraisal and a discharge fee from your current lender are the usual ones, and some lenders cover some of them. That's why I ask each lender who pays what before you decide.
You can ask, but ending a term early can carry a prepayment charge. Your mortgage contract says how it works. Call me before you act and we'll read that part together.
When a mortgage goes ahead, the lender usually pays a broker's fee. Before you apply, I'll explain how I'm paid on your file.
No. I'll say so on the first call and point you to someone who does.
No. Those questions go to your accountant or your lawyer. I'm glad to work from what they tell you.
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