brightrate

Mortgage renewals

Your renewal is coming. Compare before you sign.

Your lender's first renewal offer isn't always its best. Answer 5 quick questions, and a licensed broker will compare lenders for you. Free, with no pressure.

  • Takes about 60 seconds
  • 100% free, no obligation
  • No credit check to get started

How it works

Three steps. No pressure.

  1. Answer 5 quick questions

    Tell us when you renew, roughly what your home is worth, and what you owe.

  2. A licensed broker reviews it

    A broker in your province looks at your situation and compares lenders for you.

  3. You decide

    Switch, stay with your lender, or do nothing. It's your call.

Good to know

Why it pays to compare at renewal

Renewal is your free pass to switch

At the end of your term, you can usually move to another lender without the penalty you'd pay mid-term.

Your bank only offers its own rates

A broker works with many lenders. More offers means a better chance of a lower rate or better terms.

Earlier is better

Many lenders let you hold a rate a few months before renewal. Starting 4 to 6 months out gives you the most room.

Want the full picture? Read How mortgage renewal works in Canada.

Questions

Common questions

Is this really free?

Yes, 100% free. You never pay Brightrate anything, and there's no obligation. Brokers are paid by the lender when a mortgage closes. In rare cases, like private lending, a broker may charge a fee, and they must tell you before you agree to anything.

Do I have to switch lenders?

No. Many people use a broker's comparison to get a better offer from their current lender, or simply to confirm they're already getting a good deal.

Will this affect my credit score?

No. Answering these questions doesn't involve a credit check. If you decide to apply later, your broker will ask your permission first.

Who will contact me, and how?

One licensed mortgage broker in your province, by phone, text or email. Your details go only to that broker. They're never sold to marketers.

My renewal is more than 6 months away. Should I still ask?

Yes. It's never too early to understand your options, and a broker can tell you when it makes sense to start.

Don't sign your renewal blind.

Five quick questions. About a minute. A licensed broker does the comparing, for free.

See my options