Top 5 Reasons to Renew your Mortgage with
Verico Accede Mortgage Group!

1 - You get our Best Interest Rate not the Banks Posted Rate!

When you first got your mortgage your Financial Institution was probably very competitive with other lenders in order to get your business. Now that your term with them is expiring in the next few months will that same competitive spirit prevail. Chances are they won't be unless you force the issue.

Usually about 4 months before your mortgage is scheduled to renew your financial institution will send you a "Renewal Notice". This notice will offer you your interest rate for your next term. Usually this rate offering will approximate the "Posted Rate"

Check and see how much your Financial Institution is charging you to be loyal to them. Go to our Current Rate page. Note two rates for each term, the "Posted Rates" and "Our Rates". The rate you are being offered will likely be somewhere between the two rates. If it is not the same as "Our Rates" call us or you will pay too much.

A review of the table below illustrates just how much a small difference in rates can mean over renewal term

Your cost of being Loyal to your bank @ Mortgage Renewal Time
Best Rate	Balance		Total	Principal	Interest
	@ Renewal	in 5yrs	Paid	Paid	Paid
5.25%	$100,000.00	$88,851.38	$35,755.20	$11,148.62	$24,606.58
Rate offered						Difference
@ renewal						in rate	in cost
5.75%	$100,000.00	$89,515.93	$37,501.20	$10,484.07	$27,017.13	0.50%	$2,410.55
6.25%	$100,000.00	$90,149.89	$39,284.40	$9,850.11	$29,434.29	1%	$4,827.71
6.50%	$100,000.00	$90,455.56	$40,189.20	$9,544.44	$30,644.76	1.25%	$6,038.18
6.75%	$100,000.00	$90,753.77	$41,103.00	$9,246.23	$31,856.77	1.50%	$7,250.19

 

As you can see even the smallest difference in rate can be costly. A 1/2% increase in rate over the Best Rate on a $100,000 mortgage can cost you over $2400.00. (to convert these values to a per thousand $ value simply move the decimal point two places to the left - i.e. $24.11/1000)

If your current financial institution doesn't think enough of you to offer you the best rate why stay with them? Moving your mortgage to one of our lenders is very easy. We will need a copy of your renewal notice and a few minutes of your time.

4- You pay no penalties

Because the mortgage has come to the end of its term you are not subject to pre-payment penalties.

5-You pay no renewal fees

There is no cost to you to transfer your mortgage to one of Verico Accede's lenders. What costs there are are paid for either by your new lender or by ourselves.