Get the right advice from your broker today to help you reach your life goals tomorrow!

Contrary to popular belief, your life stage and lifestyle are in constant flux. Therefore, it should come as no surprise that your mortgage needs are always changing as well, and not only on the date your mortgage matures. Similar to your personal investments with a financial advisor, your mortgage needs should synch with your life stage and lifestyle in the short and long term. So be proactive. Make a yearly checklist to determine whether you’re on the right track to reaching your life goals.

Why review your mortgage situation every year?

Your situation can evolve over time: a change in employment, an increase in income, a new project or a change in your family situation. Reviewing your mortgage needs allows you to take stock of your situation and determine whether adjustments may be appropriate based on your goals.

Plan your mortgage needs

Here are some examples of dream projects that you may be able to leverage the benefits of your mortgage to help bring to life:

• Need more space for a growing family and have to undertake a major renovation;
• Get yourself a in ground pool
• Convert your basement into a home theatre
• Acquire a rental property
• Move
• Buy a cottage
• To retire
• Build a second story to the house;
• Make the trip of your dreams

A project may require more or less planning depending on its nature and timeline. For example, major renovations, purchasing a cottage or an income property may require different financing than purchasing a primary residence. By gathering information in advance, you can better assess the amounts you may need and the different options available to you.

How a mortgage broker can help you

They can help you get there by : 

• Educating you on all your options at hand that your mortgage provides to help you reach the many other goals in your life;  
• Show you the features and benefits of your mortgage to help you make realistic choices depending on your life stage, lifestyle or present situation; 
• Provide you with a solid game plan and road map that will help you better determine how to reach your new goals.

Keep in mind that a mortgage can help you reach many other goals in your life (other than simply allowing you to buy a home).

The key to ensure you achieve these life goals is to plan in advance!

There is therefore no need to wait until your mortgage is up for renewal or until your project is imminent to start gathering information. Speaking with a mortgage broker in advance can help you better understand your options, explore different scenarios and prepare financially for the next steps.