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It's time to spring forward with your mortgage goals by Barrie Mortgage Broker Vince Savoia

Updated: Apr 6



Barrie Mortgage Broker Vince Savoia
Barrie Mortgage Broker Vince Savoia

As the days grow longer, we warmly welcome the arrival of spring – a season of renewal and growth. Just as we set our clocks forward for daylight saving time, it's a perfect moment to take proactive steps in managing your mortgage goals. Whether you're considering buying a new home, refinancing, or making strides toward paying down your mortgage, I encourage you to “spring forward” this month!

Re-evaluate Your Mortgage Strategy

With the change of seasons, it's an ideal time to review your current mortgage. The market is constantly evolving, and refinancing could offer you better terms that weren't available when you first secured your mortgage. Refinancing can significantly reduce your monthly payments or even shorten the term of your loan, bringing you closer to a mortgage-free life.

QUICK TIP: Regularly comparing your current terms with new offerings can uncover savings opportunities.


Considering Buying a New Home

Spring symbolizes a fresh start, including the search for a new home for many. The spring real estate market is known for its increased inventory and opportunities. If you're considering moving, now is the time to explore what's available.


QUICK TIP: Getting pre-approved for a mortgage is an essential first step.

It gives you a clear understanding of your buying power and positions

you as a serious buyer in the eyes of sellers.

Accelerate Your Mortgage Payoff

One of the most effective ways to spring forward in your mortgage journey is by making additional payments toward your principal.


This strategy can drastically shorten your loan term and save you a substantial amount in interest.


QUICK TIP: Utilize any extra funds, like tax refunds or savings from cutting back on non-essential expenses, to make these additional

payments.


Upgrade and Renovate

Considering some home improvements? Focus on upgrades that enhance your living space and increase your property's value. Financing options such as a cash-out refinance, or a home equity line of credit (HELOC) can be innovative ways to fund these projects.


QUICK TIP: Renovations like kitchen and bathroom updates offer the best return on investment. Plan your upgrades wisely to maximize the value added to your home.


If you have any questions, call Barrie Mortgage Broker Vince Savoia at 416-427-4391.

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