Homeowners

Renewing when a move is coming

Align the next mortgage with a possible sale.

Write down your timeline

A likely sale in a few months creates different needs from a move in several years. Include uncertainty about when the property will sell.

Ask about open terms, shorter closed terms, portability and the terms for a bridge loan. Eligibility and availability depend on the lender.

A lower rate can be outweighed by an early repayment charge. Ask the lender for examples using your expected sale date.

Review the timing of sale proceeds, deposit and the new purchase with your broker and legal team.

General educational information. Your lender, legal and tax requirements may differ.

Bring your questions. We’ll work through the options.