Renewing or Refinancing

Mortgage Renewals and Refinancing

Mortgage Renewal Documents

Don't sign your renewal agreement without talking to us first! More than 70% of Canadians do not take advantage of their strength as a renewing mortgage borrower by using a sub-mortgage broker’s services at renewal time. Many Canadians are accepting the mortgage rate that their bank offers them at renewal without researching their options.

As a mortgage renewer, you are in a great position - your original mortgage principal has dropped, and your home's value has likely increased. Mortgage lenders see renewers as lower risk borrowers, and you should be getting the best rates available.

Let the us do your research for you and we will let you know which mortgage lender has the best mortgage options and rates for you. Some mortgage lenders will guarantee a renewal interest rate for up to 120 days before your renewal date. We arrange most residential renewals at no cost to the borrower, so there is nothing to lose and your money to be saved. Let us know your renewal date and we'll get busy for you. View Current Mortgage Rates.

Mortgage Refinance

Refinancing your mortgage is just like getting a new mortgage and you should take just as much care in the process. There are all sorts of reasons why clients refinance their mortgage including:

  • Reducing monthly mortgage payments if rates have dropped.
  • Debt consolidation like credit cards and car loans into one monthly payments
  • Help your kids buy a home by accessing your equity.
  • Using home equity for purchasing additional property
  • Accessing home equity for home improvements or major renovations
  • Managing life changes like sending kids to school, taking care of elderly parents, new babies, separation, divorce, etc.

Breaking an original term if there are currently lower mortgage rate can make sense depending on the terms of your existing mortgage contract. We can help you determine if it will make financial sense for you.

Let a Select Mortgage Advisor guide you through this process. Click Find an Advisor or Contact Us for more information.