Mortgage Renewal

Time to Renew Your Mortgage? Let’s Do It Right.

When your mortgage term ends, you’ll get a renewal offer from your lender. Most people just sign it without a second thought, but that can cost you thousands. At Mortgage Diligent, we make sure your renewal works harder for you, whether that means securing a better rate, changing your mortgage features, or switching lenders for a product that fits your lifestyle.

Get started today: Renew Now | Book a Free Consultation | Calculate Your Payments

Why Renewal Matters

Your mortgage renewal isn’t just paperwork it’s an opportunity to:

• ✔ Lock in a better rate and save money over your next term
• ✔ Shorten your amortization to pay your mortgage off faster
• ✔ Adjust your payments to fit your budget or goals
• ✔ Switch to a lender with more flexible terms (prepayments, portability, etc.)
• ✔ Access equity if you need funds for renovations, tuition, or investments

Shop around for better rate

Negotiate for a better rate

What’s New with Renewals?

Recent rule changes make it easier than ever to shop around at renewal:

No stress test for most renewals – You no longer need to re-qualify under the federal stress test if you’re simply switching lenders at renewal (insured mortgages already had this exemption).

120-Day Window – You can secure a new rate up to 120 days before your term ends, protecting you against rate increases.

No Legal Fees for Standard Transfers – Switching lenders at renewal generally free, but there could be exceptions for certain cases free (except in special cases like collateral mortgages).

You have more freedom and less hassle when exploring your options with Mortgage Diligent.

Renewal Options

At renewal, you can:

• Stay with your lender if they give you a better offer.
• Switch to another lender if better rates, terms, or features are available.
• Restructure your mortgage (e.g., shorten amortization, consolidate debt, or adjust payment frequency).
• Renew early if market conditions make sense (we’ll help calculate if breaking your mortgage early, even with penalties saves you money).

Renewal in Action

Raj and Asha’s 5-year mortgage term was coming up for renewal. Their bank offered them a rate that didn’t seem quite right, so they reached out to us before signing. We explored multiple lenders and found them a deal that saved around 1.4% in interest helping them save thousands of dollars over the life of their mortgage. Now they’re enjoying peace of mind knowing they made the smarter move at renewal time.

The Renewal Process (Step by Step)

1. Review Your Mortgage – We check your balance, rate, and goals.
2. Shop the Market – We compare offers from multiple lenders.
3. Secure Your Rate – Lock in up to 120 days before your renewal date.
4. Switch or Renew – We handle the documentation and transition.
5. Enjoy Peace of Mind – You move into your next term with confidence.

Why Work with Us?

• ✔ Access to multiple lenders for more options
• ✔ Clear, unbiased advice (we work for you, not the bank)
• ✔ Free transfer process in most cases
• ✔ Tailored mortgage solutions that save you money and stress

Know what you’re signing & why?

Your lender’s first offer is rarely their best. Take a moment to review your options before you lock in for another term. The right renewal can save you thousands and we make it simple.

Renew Now | Book a Free Consultation | Email Us | Calculate Savings