Renew Your Mortgage the Easy Way
When your mortgage term is coming to an end, it's the perfect time to explore better rates and terms. I’ll guide you through the renewal process, making sure you get the most out of your mortgage and your money.
Who This Is For
• You’re looking to secure a lower interest rate and save money
• You want to align your mortgage with new financial goals
• You’d like to reduce your payments or access home equity
Better Rates
Lock in a competitive rate and set yourself up for long-term savings.
Customized Terms
Adjust your mortgage to fit your life today and tomorrow.
Debt Simplification
Combine debts and simplify payments through your renewal.
Your goals are my top priority. Whether you want to save, consolidate, or create more financial breathing room, I’ll make your renewal smooth and stress-free so you can move forward with confidence.
FAQs
What’s the difference between renewing and refinancing?
Renewing your mortgage This happens when your current mortgage term (like 5 years) comes to an end. You renew with your current lender, often for another term (say, another 5 years), and you can negotiate a new rate and terms.
✅ Usually no big paperwork or re-qualifying.
✅ Often a quick process.
✅ Great time to shop around for better rates or switch lenders if it makes sense.
Refinancing your mortgage This is when you break your current mortgage before the term ends (or even at renewal) and set up a new one — either with your current lender or a new one.
✅ You might do this to access home equity (aka take out cash.
✅ You can consolidate debts into your mortgage for a lower interest rate.
✅ You can change the loan amount or amortization (how long you’ll take to pay it off.
⚠️ There can be penalties if done before the term is up. Which one should I choose?
Can I renew my mortgage early? Will there be penalties?
Technically, no — you can’t renew your mortgage early in the true sense of the word. Renewal happens at the end of your mortgage term (like when your 5-year fixed term finishes).
BUT! If you want to make changes before your term is up (say, get a new rate or switch lenders), that’s called refinancing, not renewing.
Will there be penalties?
✅ If you wait until your term ends to renew, there are no penalties. You’re free to negotiate a new deal or switch lenders without any fees.
⚠️ If you want to change things before your term ends (aka refinance early), you’ll likely face a prepayment penalty. This can be hefty, depending on your lender and the type of mortgage you have (fixed or variable).