MASHKENTA offers a full-service early mortgage payoff process. This service is for people with existing mortgages who wish to negotiate an end to their mortgage loan before it comes to term. There are several benefits to redeeming one’s mortgage, such as freeing up assets for other uses, as well as owning a property outright, and more. Occasionally, people pay off an existing mortgage if they think they can get a better deal on a new one. The early payoff of a mortgage is not a renegotiation – it is actively reaching the end point of your existing mortgage loan term. This option is for people who wish to fully resolve their mortgage loan, not for those who want to refinance or renegotiate the terms of their loan.
Resolving a mortgage loan allows you to bring your loan to term at an earlier date than initially set in the terms of the loan. There may be fees associated with the early repayment of a mortgage loan. When a mortgage is calculated, the bank expects there to be a certain constancy that comes with the contract. Therefore, there are often penalty clauses built-in to such contracts to protect the bank from losses from early repayment. Such penalties apply fixed-rate mortgages only, not variable. We will provide a complimentary assessment of your early mortgage payoff options upon receipt of the necessary paperwork.
Once the initial assessment is complete, our advisers will work with you to create the payoff path that is most beneficial to you based on the terms of your loan. There are many options to consider when paying off a mortgage, and MASHKENTA will be here to help you choose the right one for your circumstances.