Mortgage Renewals
When your mortgage term is coming to an end, your current lender will likely send you a renewal offer. While it may seem convenient to sign and renew, it may not be the most competitive option available. At Grade A Mortgages, we compare mortgage products from 200+ trusted Canadian lenders to help you secure a better rate, flexible terms, and a mortgage that aligns with your current financial goals.
Mortgages Renewals
Is Your Mortgage Up for Renewal?
A mortgage renewal is the perfect opportunity to review your financial situation and ensure your mortgage still meets your needs. Interest rates, lender promotions, and your personal circumstances may have changed since you first obtained your mortgage.
Rather than automatically accepting your lender’s renewal offer, let our experienced mortgage professionals shop the market on your behalf. We compare options from banks, credit unions, and alternative lenders to help you find competitive rates and mortgage features that could save you money over the life of your loan.
Whether you’re looking to reduce your monthly payments, lock in a new rate, or adjust your mortgage terms, we’re here to guide you every step of the way.
How It Works
Step 1
Review Your Current Mortgage
We assess your existing mortgage, interest rate, remaining balance, and financial goals.
Step 2
Compare Lender Offers
We shop over 200 lenders to identify competitive renewal options that may offer better value than your current lender.
Step 3
Choose the Right Mortgage
We'll explain your options, answer your questions, and help you select the mortgage that best suits your needs.
Step 4
Complete Your Renewal
We handle the paperwork and work with your chosen lender to ensure a seamless renewal process.
Who Is This Service For?
Our Mortgage Renewal services are ideal for:
- Homeowners whose mortgage term is ending
- Borrowers looking for lower interest rates
- Homeowners seeking more flexible mortgage features
- Individuals wanting to reduce monthly mortgage payments
- Anyone who wants to explore better options before renewing
If your mortgage renewal date is approaching, now is the perfect time to compare your options.
Frequently Asked Questions
It’s recommended to start reviewing your mortgage options about 120 days before your renewal date. This gives you time to compare lenders and secure a competitive rate.
No. You can switch to another lender at renewal without paying a mortgage penalty, provided your mortgage term has ended.
Yes. Comparing offers from multiple lenders can help you secure a better interest rate and improved mortgage terms.
A lender may perform a credit check if you’re switching lenders, but this is a standard part of the process and is generally manageable.
Yes. Renewal is an excellent time to adjust your mortgage term, payment frequency, amortization, or other features to better suit your current financial situation.