Millions of Canadians are renewing their mortgages over the next two years.
Before You Renew Your Mortgage, Check Your Options
Use the RenewalIQ tool to see how your payment could change and explore smarter options before signing your bank's renewal.
Why Mortgage Renewals Are Different Right Now
Over the next two years, millions of Canadian homeowners will renew their mortgage.
Many will see higher payments due to rising interest rates.
The biggest mistake homeowners make is simply signing the renewal their bank sends them.
Your bank does not compare lenders or show alternative strategies.
RenewalIQ helps you explore your options before making that decision.
What You Will Learn
What your new payment could look like
If switching lenders could save money
Whether refinancing makes sense
Our Renewal Review Process
- Review your current mortgage
We look at your rate, balance, renewal date, and lender terms. - Compare real renewal options
We shop multiple lenders, not just your bank. - Help you choose the right strategy
Rate, flexibility, penalties, and future plans all matter.
Renewing in the next 120 days?
Answer a few simple questions and get a personalized game plan with clear next steps tailored to your unique situation — completely free.
Can I switch lenders at renewal without penalty?
Yes—you can switch lenders at renewal without paying a penalty. When your mortgage term ends, you're free to explore other options and move to a new lender if it means getting a better rate, improved features, or a product that better fits your current needs.
However, while there’s no prepayment penalty, there may be some minor administrative costs (like discharge or legal fees), which are often offset by the savings you gain with a more competitive offer.
How far in advance should I start my renewal?
You can typically start the renewal process as early as 120 days (4 months) before your current mortgage term ends—and we highly recommend you do.
Getting a head start gives you time to shop around, lock in a rate early, and explore options that better suit your financial goals. It also puts you in a stronger position to negotiate with your current lender or switch to a better offer without feeling rushed.
Can I access my home equity during renewal?
Yes, your mortgage renewal is a great time to access your home equity—without paying a penalty. If you’ve built up equity in your home, you may be able to use it to fund renovations, investments, debt consolidation, or other major expenses.
Because you’re not breaking your mortgage early, you can often make changes—like increasing your mortgage amount or switching to a different product—with minimal costs and greater flexibility.
We had such a great experience working with Cindy throughout the home buying process. She took the time to explain everything clearly, answered all of our questions, and made what could have been a stressful process feel easy and manageable. Communication was always prompt and professional, and we always felt informed every step of the way. We really appreciated all of Cindy’s support and guidance and would highly recommend her to anyone looking for a knowledgeable and reliable mortgage broker!
Read more
Stephanie Black
8 days ago
We had the pleasure of working with Tonya, and we cannot say enough great things about her! Definitely recommend this Brokerage!
Read more
Kristina A
15 days ago
Cristina Nicoli
6 years ago
Don’t Just Sign — Strategize.
Let us guide you through a smarter, more profitable renewal. We’ll review your options, negotiate on your behalf, and set you up for long-term success.