What is a mortgage renewal?

When your current mortgage term ends (commonly 3–5 years), your lender will send you a renewal offer. This offer outlines a new interest rate and term length.

Many homeowners simply sign and return it.

But you don’t have to.

Renewal is your opportunity to:

• Negotiate a better rate

• Adjust your term length

• Change your mortgage structure

• Switch lenders if it benefits you

This is often one of the easiest times to improve your mortgage.

Why review your renewal?

Your Life Has Changed

It’s your chance to make your mortgage work for your current stage of life.

Rates & Products Change

Rates and mortgage products may have shifted significantly since you first signed.

Potential Savings

You could save thousands over your next term by exploring alternatives.

Greater Flexibility

Adjust payment structure, term length, or prepayment privileges.

Who should review their renewal?

This is especially important if:

• Your income has increased

• You’ve paid down significant debt

• Your financial goals have changed

• You want to pay your mortgage off faster

• You need more flexibility in your payment structure

Even small rate differences can create meaningful long-term savings.

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Review Your Current Mortgage

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We look at your rate, term, remaining balance, and renewal offer.

Compare Market Options

I explore competitive rates and products from multiple lenders.

We compare long-term costs, payment options, and features.

Finalize the Best Option

You move forward confidently, knowing you made an informed decision.

How I Can Help

Evaluate Savings & Flexibility

Curious what your monthly payments could look like?

Use the mortgage calculator to compare potential payment scenarios and explore how different rates or term lengths might affect your monthly budget.

Don’t Let a Deadline Decide for You

Contact

613-864-1822
joseline@mulvalemortgages.com

Joseline Mulvale

Mortgage Agent Level 2

#M24002279

Referral Mortgages

FSRA #13316