Mortgage Blog
Canada's Mortgage Experts
Renewing Your Mortgage in Ontario? Don’t Just Sign the Bank’s Offer
June 23, 2025 | Posted by: Cecile Morell
Mortgage renewal coming up? You might be tempted to sign whatever your bank sends. But wait—The Mortgage Boss says that could cost you big time.
Most lenders send renewal offers that aren’t the best they can do. Why? Because they know most Canadians just sign and send it back. But that’s not how you build wealth—it’s how you overpay.
In Ontario, you typically renew your mortgage every 3 to 5 years. That means you get multiple chances over your mortgage lifetime to improve your rate, your terms, or even tap into equity. It’s a massive opportunity—if you use it.
At The Mortgage Boss, we review your renewal options and shop your mortgage across multiple lenders. Whether you want to lower your payment, change your amortization, or consolidate debt—we’ll find a solution that aligns with your goals.
It’s not just about the rate. We also look at prepayment options, penalties, and flexibility. Because the best mortgage is one that works for your life now, not five years ago.
Before you renew, get a second opinion. It’s free, and it could save you thousands.
