Just renew as an open rate then with your current lender.rjg4235 wrote: ↑Feb 10th, 2018 4:26 pmI have a tenant leaving on August 15th of this year and my renewal for the term is August 26th. I want to sell the property which between cleaning, listing and closing will likely take a few months. Should I bother finding a broker or just ask the bank to renew me with open? I had a broker before but he has become unreliable.
I also plan on paying down my primary residence, they said I can do a 20% payment, plus increase my payments by 20% and double them. Is there anything I should know about doing this? What will the benefits be now of paying half my balance? Will I just keep making the same payment and pay the principal down faster? So then when I renew this one in 2.5 years I would have a much lower balance? Would I then have a different payment or continue with my current one?
Mortgage Agent and Real Estate Sales Representative