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Mortgage renewal guides

Guides on renewing with your bank, switching lenders, renewing early, consolidating, absorbing a payment increase or handling a fragile file.

11 results

Financing

Declined renewal fileA declined renewal leaves you a few months before maturity. What to do, and in what order, so you’re not left without a lender.Early mortgage renewalRenewing early: the penalty to break the current term against the rate gap. The math that tells you whether it’s worth it.Renewal after payment increaseA payment that jumps at renewal: stretch the amortization, switch lenders or refinance. The three options with numbers.Renewal after private mortgageMoving from a private loan to a regular lender means showing what has changed since you went in. What the lender wants to see.Renewal documentsIf you switch lenders, the new one starts from scratch: current proof of income, mortgage statement, tax bill. What to have four months before maturity.Renewal switching lendersSwitching lenders at maturity costs no penalty, but the new lender reassesses everything. What to plan for a transfer.Renewal with damaged creditWith damaged credit, your bank can renew without requalifying. Switching lenders reopens the file. What to weigh.Renewal with debt consolidationConsolidating debts at renewal means refinancing, and therefore requalifying. What the lender recalculates.Renewal with the same bankStaying with your bank at renewal spares you a new qualification, at the cost of the rate you did not negotiate. How to get leverage.

Services

Mortgage renewalMortgage renewal in Quebec: comparing before maturity costs nothing, and switching lenders at that point carries no penalty.

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