Tips for Renewing Your Mortgage

Just when you think you have already completed the most important financial decision of your life by obtaining home financing through a mortgage, it is time to renew it.

It is important not to just blindly renew your mortgage without considering the other options that might be available to you. Depending on when you obtained your original mortgage, there may be new mortgage products or programs available, lower rates, or better options now for you to choose from.

When it is time to renew your mortgage, there are a few important steps you should take to ensure you are still getting the best mortgage for your needs while saving the most amount of money.

Do Your Research

  1. Start looking into your options as early as you can. Putting off your research will only put you at a disadvantage when it comes time to renew your mortgage.
  2. Begin your research at least a month in advance. This will give you enough time to research mortgage rates, check out your options in a mortgage calculator and test out a certain rate before locking it in.
  3. Keep an eye on the local market. By starting your research early, you will be able to watch any movement in the market and adjust accordingly.
  4. Mortgage professionals, like Brandon Born and his team, constantly monitor local market news and trends and are your best bet for making the research process more time efficient. They can guide you in the right direction, or even perform the research for you!


  1. Financial institutions will try to lock you into the highest rate possible, especially if you blindly sign your mortgage renewal without attempting to negotiate your rate.
  2. Don’t be afraid to ask for a lower interest rate or negotiate the offered rate down closer to what you want. This is especially true if you have done your research.
  3. Use a mortgage calculator to figure out what rates you can comfortably afford and be prepared to use those points in your negotiations.
  4. Having well-connected mortgage broker on your side can greatly increase your ability to negotiate a lower interest rate for your mortgage renewal.

Renewing your mortgage is nearly as impactful as obtaining your original mortgage so don’t make the mistake of trying to go in alone. As Knoxville mortgage professionals, Brandon and his team will work hard to get you the best financing options and to make sure your mortgage renewal is something you don’t regret.

Call (865) 474-1757 today for more information or to set up your mortgage consultation!

To keep our employees safe during the ongoing COVID-19 situation, the majority of the Platinum Financial Funding team will be working remotely; however we remain open during this time to serve borrowers and continue to provide an exceptional home buying experience. We're in this together!