Mortgage Renewal
MORTGAGE RENEWAL BASICS
![Guide to Mortgage Renewal in Ontario](https://www.nerdwallet.com/ca/wp-content/uploads/sites/2/2023/09/GettyImages-1092703746-435x290.jpg)
Guide to Mortgage Renewal in Ontario
At the end of your mortgage term, you’ll need to either pay off your mortgage in full or renew your mortgage by agreeing to a new contract for an additional term.
![Mortgage Renewal: How To Save Money On Your Next Term](https://www.nerdwallet.com/ca/wp-content/uploads/sites/2/2021/08/How-to-Renew-Your-Mortgage-e1629235133694-460x191.jpg)
Mortgage Renewal: How To Save Money On Your Next Term
You’ll likely go through the mortgage renewal process several times before you pay off your mortgage in full. Here’s how to renew a mortgage, including tips for keeping down costs and finding the best deal.
![Guide to Mortgage Renewal in B.C.](https://www.nerdwallet.com/ca/wp-content/uploads/sites/2/2023/09/GettyImages-614990066-435x290.jpg)
Guide to Mortgage Renewal in B.C.
With a little effort, you can ensure that you’re getting the best possible rate and terms when you renew your mortgage.
Mortgage Calculator
Estimate your monthly mortgage payments, total interest costs and mortgage insurance fees.
YOUR RENEWAL QUESTIONS ANSWERED
![Help! My Mortgage Is up for Renewal, But My Finances Have Changed](https://www.nerdwallet.com/ca/wp-content/uploads/sites/2/2024/07/GettyImages-1362328463-435x290.jpg)
Help! My Mortgage Is up for Renewal, But My Finances Have Changed
A change in income or credit score can affect how you approach renewing your mortgage.
![Should You Use a Mortgage Broker for Your Renewal?](https://www.nerdwallet.com/ca/wp-content/uploads/sites/2/2024/09/GettyImages-1382656097-435x290.jpg)
Should You Use a Mortgage Broker for Your Renewal?
Renewing your mortgage when rates are high? Going it alone is an option, but using a mortgage broker might help you find a better deal.
![Falling for These Mortgage Renewal Myths Will Cost You](https://www.nerdwallet.com/ca/wp-content/uploads/sites/2/2024/07/GettyImages-1314403878-435x290.jpg)
Falling for These Mortgage Renewal Myths Will Cost You
You’ve probably heard at least one of these common misconceptions. Don’t fall for it! A little bit of effort can result in big savings when it’s time to renew.
![Variable Or Fixed For Mortgage Renewal? Not An Easy Call](https://www.nerdwallet.com/ca/wp-content/uploads/sites/2/2024/08/GettyImages-1703086172-435x290.jpg)
Variable Or Fixed For Mortgage Renewal? Not An Easy Call
Deciding between a variable or fixed mortgage rate at renewal requires balancing your present finances with your future needs.
![](https://www.nerdwallet.com/ca/wp-content/uploads/sites/2/2022/03/House-1.png)
NerdWallet Mortgage Lender Reviews
Shopping for a mortgage? We’ve reviewed Big Banks, brokers, B Lenders and online-only lenders to help you finance your home purchase, refinance or renewal with confidence.
MORTGAGE RENEWAL STRATEGIES
![Why Negotiating Your Mortgage Renewal Rate Is A Must](https://www.nerdwallet.com/ca/wp-content/uploads/sites/2/2024/07/GettyImages-1339459004-447x290.jpg)
Why Negotiating Your Mortgage Renewal Rate Is A Must
Never accept your lender’s initial renewal rate. Negotiating could save you thousands of dollars over the course of your mortgage’s next term.
![3 Ways to Take on a Budget-Busting Mortgage Renewal](https://www.nerdwallet.com/ca/wp-content/uploads/sites/2/2023/02/GettyImages-1365822258-435x290.jpg)
3 Ways to Take on a Budget-Busting Mortgage Renewal
With interest rates still high, renewing your mortgage probably won’t be the best part of your 2024. If you’re worried about the impending cost of your home loan, keep these strategies in mind.
![Preparing For Mortgage Renewal Shock](https://www.nerdwallet.com/ca/wp-content/uploads/sites/2/2022/11/GettyImages-1174871767-e1669234449708-460x203.jpg)
Preparing For Mortgage Renewal Shock
If your mortgage renews in the coming months, it’s going to sting. Prepare for renewal shock by shopping around and understanding your options.
![What Is An Alternative Mortgage Lender?](https://www.nerdwallet.com/ca/wp-content/uploads/sites/2/2024/04/GettyImages-1446967264-435x290.jpg)
What Is An Alternative Mortgage Lender?
Alternative lenders in Canada can help borrowers who can’t get mortgages through banks.