Pineapple Financial
Mortgage Renewal
Mortgage renewal refers to the process of renewing a mortgage loan after its term has ended. Typically, a mortgage term is up to 5 years. When the term of your mortgage comes to an end, you have the option to either renew your mortgage with your current lender or switch to a new lender.
During the mortgage renewal process, you will need to negotiate the new terms of your mortgage, including the interest rate, the length of the new term, and the type of mortgage you want. You may also need to provide updated financial information to your lender to ensure that you still meet their lending criteria.
It’s important to start the mortgage renewal process well in advance of your current mortgage term’s expiry date to give yourself time to shop around for the best rates and terms. You should also consider working with one of our mortgage brokers to help you navigate the renewal process and find the best mortgage options for your unique situation.
During the mortgage renewal process, you will need to negotiate the new terms of your mortgage, including the interest rate, the length of the new term, and the type of mortgage you want. You may also need to provide updated financial information to your lender to ensure that you still meet their lending criteria.
It’s important to start the mortgage renewal process well in advance of your current mortgage term’s expiry date to give yourself time to shop around for the best rates and terms. You should also consider working with one of our mortgage brokers to help you navigate the renewal process and find the best mortgage options for your unique situation.
BOOKING FORM
Approved In Minutes
