Mortgage Renewal

When your mortgage comes up for renewal, your current lender will usually send a quick renewal offer with a modest discount and hope you sign it without asking questions. It feels simple and convenient, but over a new 3–5 year term that “easy” choice can quietly cost you thousands of dollars in extra interest. My role is to shop the market for you and make sure that doesn’t happen.

I’ll review your current mortgage, compare rates and options from multiple lenders, and show you what staying versus switching really looks like in dollars and cents. We can also use renewal time to adjust your strategy—shorten or extend your amortization, change payment frequency, or even consolidate other debts if that improves your cash flow.

It’s worth setting a reminder several months before your term expires, especially if:

  • You want the confidence that you’re not overpaying on interest.
  • You’re concerned about your payments jumping at renewal.
  • You own rental properties and need them to keep cash‑flowing well as rates change.

When a renewal is on the horizon, think of it as a built‑in chance to renegotiate and realign your mortgage with your current goals—not just a form to sign and send back.

I recommend reaching out 4–6 months before your term expires. That gives us time to review your current mortgage, compare options with multiple lenders, and put a new approval in place before your lender’s default offer shows up in your inbox.

No. You’re free to move your mortgage to another lender at renewal with no payout penalty on the existing term. If a different lender is offering a better rate, more flexible prepayment privileges, or features like a HELOC, we can transfer your mortgage and take advantage of those improvements.

There will usually be a fresh credit check and some standard legal/registration work, but in many cases the new lender covers most or all of the basic transfer costs. We’ll weigh any small one‑time fees against the interest savings over the new term so you can see the true net benefit.

Yes. Renewal is the perfect time to adjust your amortization: shorten it if you want to become mortgage‑free faster, or stretch it slightly if you need lower payments for cash‑flow reasons. We can also increase your regular payment or add prepayment privileges if accelerating payoff is the priority.

Depending on how complex your application is and how quickly documents are provided, pre‑approval can be completed in as little as a few hours or may take a couple of business days.

Most pre‑approvals are good for roughly 90–120 days, giving you a window to shop for a home while holding a rate and maximum purchase amount.

Not quite—final approval still depends on the specific property you buy, your finances at the time of purchase, and any changes to lender guidelines or interest rates.

We’ll guide you through each step of pre‑approval so the process feels clear and stress‑free, and so you can shop with confidence.

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