Renewing mortgage for small value

I will be renewing my 75K mortgage for the final time and I will probably stick with my existing lender. I fairly sure I won't be offered a great rate but switching lenders at the tail end of my mortgage is not something I would consider doing. Just too much of a hassle.

HELOC is certainly an option but I think you would probably be better off sticking with your current lender even if they don't give you the best rate.

We have our mortgage renewal coming up this July and will have around $50K left and decided why not use the MBNA 0% credit card offer (have been using them for many years with typical $20-30K limit each). Also let's not forget to use the GCR for the rebate lol so interest from that for the year should only be $500 minus rebates of $120 = $380 not bad I figured with such a small amount it should work out ok. With the current interest rates going up will for sure be over 3% for such a small amount. Got lucky last 7 years with paying below 2% with variable rates.

The thought of using a 0% CC did cross my mind as well but those 0% offers are for a limited time period and I wouldn't be able to pay off my balance before the 0% offer expired. But you could always sign up for another 0% CC and transfer any outstanding balance to the new card. Rinse and repeat until your balance is zero.

-=MK=- wrote: ↑ The thought of using a 0% CC did cross my mind as well but those 0% offers are for a limited time period and I wouldn't be able to pay off my balance before the 0% offer expired. But you could always sign up for another 0% CC and transfer any outstanding balance to the new card. Rinse and repeat until your balance is zero.

Exactly! If I don't pay off everything before the one year is up, I'll just use my heloc to pay it off and will apply for another one and do it all over again Have been doing this for years now and I'm very disciplined in it, never missed my due date yet lol True RFD style, saving $$$