5 guides
Renewals and switching guides
What to do in the months before your term ends.
- ChecklistMortgage renewal checklistA step-by-step mortgage renewal checklist: what to gather, how to read the renewal statement, how to grade the offer and how to count the cost of switching.
- Step by stepYour mortgage renewal timeline, from 120 days out to signingA working plan for the four months before your mortgage term ends: gathering documents, asking for quotes, comparing offers and the 21-day renewal statement.
- Side by sideSwitching lenders at renewal: is the lower rate worth it?Staying with your lender versus switching at renewal: the costs FCAC lists, how to work out the break-even point, and the questions to ask a new lender.
- Q&AHow to read your mortgage renewal letterWhat your mortgage renewal statement must include, what each line means, what happens if you don't reply, and how to check whether the offered rate is fair.
- ExplainerRenewing when rates are higher than your current rateIf your renewal rate is above what you pay now, see what the higher payment is made of and the levers to look at: rate, term, amortization and prepayments.