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When your current mortgage term is up and it is time to renew, shopping around to different lenders could save you thousands of dollars over the course of your loan. When you first signed your mortgage, your contract with that lender was for a specific period of time. Unless you can afford to pay off the balance remaining, you will have to renew your mortgage. Over the course of your initial mortgage term, your employment, your income, your financial snapshot may have changed. The end of your term is a great opportunity to reevaluate your goals and your financial health and renegotiate the terms of your mortgage with your existing or with a new lender. Let Property Finance Corp. guide you through the renewal process.



In 2015 the Canada Mortgage and Housing Corporation (CMHC) found that 86% of people stayed with their existing lender when the time came to renew their mortgages. Often it is most convenient for homeowners to just sign the renewal offer from their mortgage lender and get on with it. But a Bank of Canada study showed that many banks and lenders may not offer the best deals to existing customers. They are counting on this captive audience and do not necessarily feel the need to compete with alternate lenders offering more favourable rates. Securing a mortgage with lower fees can result in significant savings. But choosing a new lender is not always the best option either. Switching lenders while you still have a balance owing on your home could mean prepayment penalties and administrative and legal fees. How can you figure out which option will leave you in a stronger financial position?

Choosing the right partner to help you navigate the renewal process, means choosing a broker who will educate you on the options available to you and confidently negotiate with lenders (existing or new) on your behalf. At Property Finance Corp. we know the questions to ask so you can organize a good financial picture and present yourself most positively to lenders. And once we have a clear picture of your financial needs and goal, we can match you with the mortgage product most suitable for you.


Mortgage Answers At Your Fingertips

Your Mortgage App, powered by Property Finance Corp. has the answers to all your mortgage questions. Explore how much you need to borrow, calculate your monthly payments, estimate land transfer tax, compare current rates, access our Stress Test to calculate your maximum loan amount, connect with a broker, and more with this comprehensive mortgage financing tool. And the best thing about the Your Mortgage App? It is completely free!

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Secure the best terms and save yourself the most money possible by following these four steps when it comes time to renew your mortgage:

  1. Start Early: Begin to prepare for renewal about 4-6 months before the end of your mortgage term. This will give you time to organize yourself to present your financial picture to potential lenders. This will also give you time to stabilize your finances. Having an orderly and comprehensive report of your financial health will help you command the market’s best mortgage rates and terms.
  2. Shop Around: As you prepare to renew, shop around and explore your options. Lenders will be competing to attract your business. There are options for lower rates, longer terms, and even ways to acquire new rates without penalty. A discussion with a broker can help you clarify your goals for your new mortgage. Payment flexibility, access to equity, and more can make a mortgage a better fit than just the lowest rates. Let your broker help you find the most suitable mortgage renewal product for you.
  3. Negotiate: A lender’s posted rate is often not the best rate they are able to offer. Having a skilled, knowledgeable, and confident negotiator on your side is crucial to ensuring you can access the most attractive renewal products available.
  4. Pay Down Your Principal: Even after you have secured a lower rate, consider maintaining your old monthly payment amount. Ensure that the difference between your old and new payment amount is applied against the principal and you may be surprised at how much you can save in interest over the term of your loan.

Celebrating Success

We are committed to helping our clients find the best mortgage solution available and educating them every step of the way. When our clients are able to move closer to their financial goals and can purchase, refinance, or leverage their home’s equity, their success is our success. We’ll let them speak for themselves...

Don’t Let The Rates Fool You

Every mortgage customer focuses on advertised rates as they search for the “best” mortgage available. Good rates are great, but they do not tell the whole story. The length of the mortgage term, amortization, repayment flexibility, and type of interest are just some of the other factors that will determine the best mortgage for you. Property Finance Corp. can connect you with the mortgage products that meet each of your needs and that sets you up for a strong financial future.


According to the Bank of Canada people who use a mortgage broker when renewing their mortgages often pay less than those who choose to navigate renewal alone. Partner with Property Finance Corp. when the time comes to renew and have access to an abundance of resources, tools, broker knowledge, and negotiating power to ensure that you get the terms and interest rates that make sense for you. Don’t just sign your lender's renewal on the dotted line, take the time to explore the options that will help you meet your financial needs now and for years to come. Call on Property Finance Corp. as your partner in smart mortgage renewal. Call us at 1-844-PF1CORP (731-2677)

Mortgage Solutions That Are Just For You

Property Finance Corp. has access to a variety of mortgage products that can be tailored just for you. From first-time buyers to empty nesters looking to downsize and for every single Canadian seeking a mortgage product in between, we have the solution. Access to our network of over 35 of the most reliable lenders means we can help you find a new mortgage, negotiate a mortgage renewal, help secure refinancing,  and unlock the equity in your home.

Mortgage Renewal FAQs

At the end of your term, you’ll have the option to pay off your balance or renew for another term. When you renew, there are a number of factors to consider as you figure out the best type and term of the mortgage for you. Your broker can help you understand the differences and advise you on how to achieve your financial goals.

Mortgage lenders in Canada typically let you renegotiate your mortgage at any time within the 120 day period prior to its expiration. Outside this window, you may incur fees unless they make an offer.

Lenders typically won’t deny your mortgage renewal request unless you have a history of missed payments. This is true even if your financial situation has changed.

The Right Broker = The Right Mortgage Solution

The Right Broker = The Right Mortgage Solution

Choosing the right mortgage solution is key to setting yourself up to achieve your goals and creating a bright financial future for you and your family. Choosing the right mortgage broker to help you get it is just as important. Property Finance Corp. is a team of dedicated and experienced brokers who can guide you through the often complex world of mortgage products. Leverage our skill, our industry knowledge, and our carefully cultivated lender relationships to find the mortgage solution that is most ideal for you.

Call us at 1-844-PF1CORP (731-2677) today.

Your Guide To A Strong Financial Future

You don’t have to travel the pathways to homeownership, mortgage renewal, refinancing, or accessing the equity in your home alone. Property Finance Corp. is uniquely positioned to guide you with insight and practical advice to ensure that the mortgage product you choose is exactly right for you.

Call us today at 1-844-PF1CORP (731-2677)

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