The new year is a time for making personal resolutions, writing business plans, evaluating your involvement in memberships and affiliations, and getting back on track with health and fitness. It is also a great time to do a mortgage checkup, and make sure your mortgage is working for you the way it should be.
A mortgage isn’t something you sign once every few years and then forget about during the time in between. Life and circumstances can change substantially in a year, and a regular review can help ensure that your mortgage is still the right fit for your lifestyle and your situation.
The types of things you should look at when conducting your new year mortgage checkup are:
Why is a new year mortgage checkup important? That’s simple. Aligning your mortgage strategy with your current mortgage goals can help you:
All, some, or none of the above options may be a fit for your family. There can certainly be pros and cons to each of the above options depending on your unique circumstance, but knowing what these options are puts you at an advantage if you ever need to make changes to your financial strategy.
A key part of educating my clients, and building positive relationships with them, is working with them through the entire mortgage process, while assessing their lifestyle and understanding their goals. Helping them to get mortgage ready, stay mortgage balanced, and ultimately get mortgage free faster is my business.
In some cases, a mortgage checkup may show that refinancing could improve your mortgage strategy. In other cases, the best plan of action may be no action at all. If you’d like some help figuring what options might be best for you, contact me today!