Don't Automatically Renew Your Mortgage.
Your renewal is an opportunity to compare lenders, review your rate and make sure your mortgage still fits your goals.
Any renewal, transfer or refinance is subject to lender criteria. Applicable appraisal, legal, registration or lender fees may apply depending on the transaction.
Compare your renewal options
A licensed Mortgage Made Better broker will review your current mortgage and discuss potential options. Submitting this form is not mortgage approval.
You don't have to automatically accept the renewal offer.
At renewal, borrowers can review their current lender, other lenders, fixed vs. variable, term length, amortization, payment, debt consolidation, equity access and mortgage structure. Taking a moment to review these before signing helps ensure the next term still fits your plans.
Six areas worth reviewing before you sign.
Your Rate
Review the offered rate against other available mortgage options.
Your Term
Consider whether the next term length still fits your plans.
Your Amortization
Review whether your current payment structure still makes sense.
Your Lender
Depending on your situation, switching lenders may be an option.
Your Structure
Consider fixed, variable or other available mortgage structures.
Your Debt
Renewal can be an opportunity to review debt consolidation or equity needs.
Six reasons your renewal deserves a proper review.
Renewal Letters Reflect One Lender
The offer in your renewal letter is one lender’s starting position. Comparing potential lenders may show different options.
Renewal Is a Natural Review Point
At maturity you can consider whether the mortgage still fits your goals — rate, term, amortization, payment and structure.
Rates and Products Change
Mortgage products and rates evolve over the term. What was appropriate at the start of the term may not be the best fit today.
Your Situation May Have Changed
Changes in equity, income, credit or family situation can affect what mortgage options may be available to you.
Broker vs. Single Lender
A licensed broker can compare a range of lenders on your behalf, subject to each lender’s criteria.
The Timing Is Yours to Control
Starting a few months before maturity gives you time to review options carefully rather than deciding under pressure.
A simple renewal timeline.
Every borrower is different — these are general guidelines, not fixed steps that apply to every situation.
6–12 Months Before
Start thinking about your goals for the next mortgage term.
3–6 Months Before
Review your mortgage, finances and available options.
1–3 Months Before
Compare potential lenders and mortgage strategies.
Renewal Time
Choose the option that best fits your current situation.
Two different transactions. Two different conversations.
Renewal
Generally involves continuing or changing the mortgage at the end of the existing term — with your current lender or a different one, subject to qualification.
Refinance
May involve changing the mortgage amount, accessing additional equity or restructuring the mortgage. Refinancing can involve additional costs and qualification requirements.
Two different mortgage structures.
| Fixed | Variable | |
|---|---|---|
| Rate behaviour | Rate generally stays fixed during the term | Rate can change during the term |
| Payment certainty | More payment certainty | More exposure to rate changes |
| Budgeting | Easier budgeting | Potentially different payment/rate dynamics |
| Penalties | May have different penalty structures | May have different penalty structures |
There is no universally better option. The right choice depends on your circumstances, comfort with rate changes and mortgage goals.
Rate is one factor. There are others.
A mortgage is more than its rate. Reviewing the full package can help avoid surprises during the next term.
Interest Rate
Compare the offered rate against other available mortgage options.
Payment Flexibility
Prepayment privileges, payment frequency and lump-sum options.
Penalties
Understand how prepayment penalties are calculated before making structural changes.
Portability
Whether the mortgage can move with you if you sell and buy again.
Features
Skip-a-payment, cash-back and other built-in mortgage features.
Every renewal starts from a different place.
Life Changes
Divorce, income change or credit event?
We work with lenders across the spectrum, subject to their qualification criteria.
Equity Growth
Has your home’s value changed?
You may want to review whether to put that equity to work at renewal, subject to lender criteria.
Debt Consolidation
Carrying higher-interest debt?
Renewal can be a natural time to review whether consolidating into the mortgage fits your situation.
A licensed brokerage reviewing the market on your behalf.
Compare 30+ lender partners
Discuss potential options with your current lender
Coordinate paperwork through to funding
Walk through the pros and cons of each path, honestly
Support your renewal or transfer through closing
Multiple lenders
Banks, credit unions, trust companies and monoline lenders, reviewed on your behalf.
Clear explanations
No jargon and no fine-print surprises — straightforward guidance you can act on.
Personalized approach
Based on your equity, goals and timeline, subject to lender criteria.
End-to-end support
From your first call through to closing day and beyond.
Local expertise
Serving Toronto, the GTA, and all of Ontario.
Broker compensation
Our compensation is typically paid by the lender when the mortgage funds, on qualifying prime deals.
Mortgage renewal, answered.
Make Your Next Mortgage Term Work for You.
Before signing your renewal, take a moment to review your mortgage, compare your options and make sure your next term still fits your plans.