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Renewals / Early Renewals

If the term on your mortgage is nearing its end and you’re getting ready to renew it, you should give True Mortgage a call before calling your bank. We can help you renegotiate a much better interest rate than the one the bank is going to initially offer you. With us by your side, you’ll be able to secure the best terms and rates possible given the current market conditions. 



Don’t accept the bank’s first offer! 

When the term on your mortgage is up your bank or financial institution will most likely offer you a renewal. DON’T TAKE THEIR FIRST OFFER! It’s estimated that over 65% of Canadians simply re-sign their mortgage with the same lender without further negotiating or shopping around. Your bank knows this. And they’re banking on the fact that you won’t want to deal with the hassle of either negotiating or looking for a new lender. That’s why the first offer they put forth to you is almost guaranteed not to be the lowest rate or best terms they can provide you. Which is why you need to call us and let True Mortgage advocate on your behalf before ever signing on the dotted line.

You don’t have to renew with the same lender 

A lot of people are unaware that they don’t have to renew their mortgage with the same lender they received it from in the first place. That’s why it’s important to consult with True Mortgage before accepting any offer your current lender puts forth. With our help, we can make sure you’re receiving the most competitive rate and terms once renewal time rolls around.  

Thinking of renewing your mortgage early? We’ll run the numbers so you don’t have to 

If you’re looking to take advantage of the historically low interest rates currently out there by renewing your mortgage early, we can help determine if it’s the right move to make. Renewing your mortgage early usually involves payout fees, but most of the time these fees will be far less than the money you will save by locking in at a much lower rate, and lenders will allow you to carryover those fees into the mortgage. If you’re unsure about whether it makes financial sense for you to renew your mortgage early, give us a call and we’ll happily run the numbers for you and determine what your best course of action is. 


Don’t wait for the bank to call you 

You don’t want to wait till the bank calls you to start thinking about renewing your mortgage. Otherwise you’ll be under the gun and less likely to explore your options. Which could cost you a lot of money over the long run. We recommend you start researching options up to 6 months prior to the end of your term. This way you’ll have plenty of time to enlist our services to find you the best renewal solution out there. 

Lock in the lowest rate by getting pre-approved for your renewal 

If you’ve chosen True Mortgage to arrange your mortgage, we’ll contact you at least four months before your term expires so we can run through all the best options together before your renewal date arrives. This way we can lock in the most competitive rate and terms well in advance, allowing you to be protected from any sudden shocks or changes to the lending landscape. It will also allow you to take advantage of any favourable developments that may happen leading right up to your renewal date.

The True Mortgage process

1. Conversation 

We get to know one another in a friendly and non-committal manner to begin so I can understand your story. Once I know your story, I’ll know how I can best help you. 

2. Goals 

We discuss and figure out what it is you truly want to accomplish. Once we have your goals clearly outlined and defined, I can begin determining how we can best achieve them. 

3. Application 

You fill out an application and we’re officially working together. From here on out you can expect consistent communication, full transparency, and unmatched service.  

Need a mortgage or have a question? 

True Mortgage can help you secure a mortgage at a great rate. For more information on how we can help you get the home of your dreams, contact us by calling (403) 615-4343 or by filling out the form below to book your FREE consultation today. 

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