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Mortgage Renewal Made Easy
Renewing Your Mortgage? Discover the Best Rates and Options
When your mortgage term comes to an end, it’s the perfect opportunity to reassess your financial goals and secure the best possible deal. At RateBook.ca, we make mortgage renewals simple and stress-free, helping Ontarians find competitive rates and flexible terms tailored to their needs.
While sticking with your current lender seems convenient, it often comes with higher rates and limited options. Many lenders offer renewal rates that are significantly above the market average, banking on the fact that homeowners won’t shop around.
Example: If your lender’s renewal rate is 2.75% higher than other market rates, you could end up paying thousands more over the term of your mortgage.
Explore Better Options with RateBook.ca
By comparing rates from a wide network of Canadian lenders, including banks, credit unions, and fintech companies, RateBook.ca ensures you don’t miss out on potential savings. Our tools and mortgage experts help you navigate the renewal process with ease.
The Mortgage Renewal Process
Browse current rate offers using our online tools.
Schedule a free consultation with a trusted mortgage expert.
Choose from tailored rate and product options.
Submit your application and secure lender commitments.
Finalize your mortgage with ease, supported by ongoing assistance.
Many homeowners automatically renew their mortgage with their current lender without exploring better options. At RateBook.ca, we make it easy to compare and switch lenders if it means saving money and securing better terms.
Real-World Example: Sarah from Toronto saved over $10,000 by switching lenders during her mortgage renewal after comparing rates on RateBook.ca.
Real-World Example: Sarah from Toronto saved over $10,000 by switching lenders during her mortgage renewal after comparing rates on RateBook.ca.
Ready to Renew? Let Us Help You Save
Don’t let your mortgage renewal pass by without exploring your options. Contact us today to find the best rates and terms for your next mortgage term. Our service is completely free, and our licensed mortgage experts are here to guide you every step of the way.
🔖 Get a Free Renewal Quote
Fill out our simple online form to receive personalized rate options tailored to your needs.
📖 Talk to a Mortgage Expert
Schedule a no-obligation consultation with one of our licensed mortgage professionals to explore your options.
📈 Use Our Renewal Calculators
Discover how much you can save with our easy-to-use mortgage renewal calculators.
Frequently Asked Questions (FAQ)
You should start reviewing your mortgage renewal options about 4-6 months before your term ends. This gives you enough time to compare rates, negotiate with your lender, and explore better offers.
If you renew with your current lender, requalification is usually not required. However, if you switch to a new lender for a better rate, you may need to go through the application process again.
Yes, you can and should negotiate your renewal rate. Your current lender may offer a better deal if they know you’re considering switching to another lender.
Switching lenders may involve minor costs like discharge fees or administrative fees, but many new lenders cover these expenses. Our mortgage experts will help you understand and minimize these costs.
If you don’t renew your mortgage by the end of the term, your lender may automatically roll it into an open mortgage with a higher interest rate. It’s important to act before your term expires to avoid unnecessary costs.
RateBook.ca compares rates from multiple lenders to ensure you get the best deal. We provide expert advice, guide you through the renewal process, and connect you with trusted mortgage professionals—all at no cost to you.
Yes, mortgage renewal is a great time to reassess your financial goals. You can adjust your payment frequency, change your term, increase or decrease your amortization period, or even consolidate debt.
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Contact us today to find the best rates and terms for your next mortgage.
