What affects ability to RENEW mortage?
Hello,
I'm yet 1 year away from my mortgage renewal, and I'm curious what affects my ability to renew, if anything?
There is no income change, payments have been on time. It was a variable rate mortage with fixed payments, so I have been technically overpaying what I am expected of for most of the duration.
There is now a HELOC attached to the house, with a small balance. If a larger balance, would that affect?
If I open my own business prior to next year, would that affect my renewal? Would that affect my rate only, or with whom I can shop around with?
Credit is good, so no issues there.
Your help is appreciated.
Thanks
I'm yet 1 year away from my mortgage renewal, and I'm curious what affects my ability to renew, if anything?
There is no income change, payments have been on time. It was a variable rate mortage with fixed payments, so I have been technically overpaying what I am expected of for most of the duration.
There is now a HELOC attached to the house, with a small balance. If a larger balance, would that affect?
If I open my own business prior to next year, would that affect my renewal? Would that affect my rate only, or with whom I can shop around with?
Credit is good, so no issues there.
Your help is appreciated.
Thanks