Mortgage Renewal

Mortgage Renewal2018-02-13T11:11:07+00:00

Mortgage Renewal

Did you know that when your term is complete, you have the option to shop the entire Canadian mortgage market for the best rates and products for your next term? Transferring your mortgage to a different lender at renewal will not cost you anything. Let our team find you the best mortgage rate from over 40 major banks and lenders across Canada for your upcoming mortgage renewal.

How to Renew Your Mortgage

Renewal Letter

When your mortgage term is coming to a close, your current lender will send a mortgage renewal letter in the mail approximately two to three months prior to the end of the term.

Apply for Renewal

Once you receive your mortgage renewal letter, simply complete the application on this page or contact our mortgage team to start the mortgage renewal process.

Find Best Mortgage

Our mortgage team will work for you to find the best mortgage renewal rates and product offers available from over 40 banks and lenders across Canada.

Complete Renewal

Once we select the best mortgage offer for you, we simply complete all the paperwork to transfer or switch your mortgage to a new lender or renew with your current lender.

Lowest Mortgage Renewal Rates in Canada

We guarantee to get you the lowest mortgage rate from over 40 lenders across Canada!

***Rates are subject to change at anytime and restrictions may apply. Contact a mortgage broker for the most up-to-date rates.***

Lock in Today’s Best Rates for Your Mortgage Renewal!

Click Apply Now below to open a secure online mortgage application to safely and securely submit an application for your mortgage renewal. Our mortgage team will review your information and contact you to complete your official mortgage renewal!

Best Rate Mortgage Renewal

Is Your Mortgage Term Coming up for Renewal?

Did you know that when your term is complete, you have the option to shop the entire Canadian mortgage market for the best rates and products for your next term? Transferring your mortgage to a different lender at renewal will not cost you anything.

If you have already recieved your renewal letter in the mail, contact one of our brokers! Our mortgage brokers deal with over 40 lenders across Canada to find you the best possible mortgage to fit your needs. We are an independent company with the sole purpose of finding you the best mortgage rate and product in Canada.

Our brokers will save you time and money by negotiating a better rate on your behalf at no cost to you! That’s right, our services are absolutely FREE!

The Process

When your mortgage term is coming to a close, most banks will send a Mortgage Renewal notice in the mail approximately one to two months prior to the end of the term. On this notice, banks will always offer you a higher rate and assume that you will sign on with them for another term. They typically only offer you their posted rate with very little or no discount.

CMHC stats show that over 60% of all Canadians accept the first rate their bank offers. They will stay with their existing mortgage lender because they believe it is too time consuming to shop around for a better rate. Or, they may think the offer from their existing bank is the best deal available. This is not true!

We will get you the best rate on the market guaranteed!

Transferring a Mortgage

A major misconception among homeowners is that switching your mortgage between lenders will incur penalties and fees. The truth is, it is absolutely FREE! The big banks know that most homeowners don’t know or understand transferring a mortgage is free and they certainly don’t want you to know.

If you simply switch your mortgage to a new lender, you will not be subject to any payout penalties if you are switching at renewal time. If your mortgage is in the middle of a term, there may be a penalty to switch. However, we have found that paying the penalty in many cases to change institutions to either get a lower rate or a better mortgage product can save a homeowner thousands of dollars.

Once you are qualified, your current mortgage balance and the remaining amortization period are transferred to your new lender with your new interest rate in place.

You should start thinking about switching your mortgage between 90 and 120 days before your mortgage renewal date. We can lock in an interest rate for you up to 120 days prior to your renewal date to protect you against any interest rate fluctuations that may occur prior to your renewal.

Mortgage Renewal
Application

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Financial Details

Complete the Online Application or Contact Our Team to Discuss Your Mortgage Renewal Options