Stress-Free Mortgage Renewal in Canada
Quick answer
Quick answer (Canada): Mortgage renewal means replacing your expiring term with a new one, either with your current lender or a new one. You can shop for lower rates, shorter or longer terms, and flexible features like prepayments. Negotiating early gives you leverage and avoids automatic rollovers at higher rates.
See: Renewal Guide · Compare and Save Calculator · Stress Test Calculator
Guidance on renewals is published by the Financial Consumer Agency of Canada.
Renewal coming up? Don’t just sign your lender’s first offer. At Genesis Group we compare 100+ lenders to secure better rates and terms that fit your life. Save money, avoid surprises, and renew with confidence.
Renewal Pain Points and Smart Solutions
- Auto-renewal trap: We negotiate before maturity so you avoid costly default offers.
- Higher payments: Access lower rates or extend amortization to keep cash flow steady.
- Missed options: Switch lenders to unlock prepayment privileges and features.
- Life changes: Adjust structure to match income shifts, debts, or family goals.
- Penalty confusion: We calculate true costs and align timing for maximum savings.
Why Renew with Genesis Group
- 65+ lenders compared: Banks, credit unions, and alternative options.
- Better terms: Prepayment privileges and flexible features, not just rate.
- Concierge service: We package your renewal file and negotiate on your behalf.
- Transparency: Clear costs, no hidden surprises, full side-by-side comparisons.
- Licensed experts: FSRA-regulated advice tailored to your needs.
How the Renewal Process Works
- Start your renewal file with Genesis Group.
- We compare offers across banks, credit unions, and alt lenders.
- Negotiate best rate and terms well before maturity.
- Lock in savings and sign with full concierge support.
5 Year - Fixed Term from
Get Started Now and Save Thousands!
No cost, no obligation—just your best rate in minutes.
At Genesis, we’re dedicated to securing the lowest rate possible for you. Your personalized rate depends on factors like credit score and home equity, in line with Canadian regulations. Get your tailored details quickly—with zero cost, zero obligation, and total peace of mind.
Discover the Key Benefits of Choosing Mortgage Renewal
with Genesis Group.
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From the very first meeting to the joyous moment of receiving my keys, The Genesis Group, under the astute leadership of Kirk Bryan, has been nothing short of spectacular in... read more
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01/13/2024If getting a mortgage was an Olympic sport, these guys would take gold—blindfolded, on a unicycle, while juggling flaming swords. They made the process so smooth, I was half convinced... read more
Samantha L
09/13/2024Kirk is a class act! He helped me with my first home property mortgage and couldn’t have asked for a more professional person to deal with. Him and his team... read more
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12/13/2024As a first-time homebuyer, navigating the mortgage process can be incredibly daunting, but The Genesis Group made it not only manageable but truly rewarding. I had the distinct pleasure of... read more
Rohan Spence
05/13/2024My husband and I had used Kirk and his team upon closing a deal on our home. We couldn’t be more happy with everything Kirk and Brittney have done for... read more
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11/13/2024The Genesis Group exceeded my expectations! Purchasing an investment can be a scary process especially during this unprecedented time. I had the pleasure of working with Kirk and his assistant... read more
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01/13/2023I had a great experience with The Genesis Group. The process was smooth, with clear communication and competitive rates. Their team was responsive and helpful throughout. Highly recommend!
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09/13/2024Could not say enough about The Genesis Group. The level of dedication, professionalism, and knowledge is unmatched. When dealing with such a big life decision like buying a house -... read more
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11/13/2024Was a great experience working with Kirk and his team. They not only helped me refinance my mortgage on my house, they also assisted me in a commercial business acquisition.... read more
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Real results for Canadian renewals
Frequently Asked Questions
What is a mortgage renewal in Canada and how early should I start?
A mortgage renewal is when your current term ends and you choose a new term, rate, and features. Start shopping 90 to 180 days before maturity so you can compare multiple lenders and avoid auto-renewal at higher pricing. Use the Compare and Save Calculator and review our Mortgage Renewal Guide.
Can I switch lenders at renewal in Canada without penalty?
At maturity you can move your mortgage to a new lender without an early payout penalty. There can be small legal or discharge fees, which we aim to offset with a better rate or features. We compare offers across banks and credit unions so you renew on your terms.
Fixed vs variable vs hybrid at renewal in Canada, which should I choose?
Fixed gives predictable payments. Variable can save if rates fall but payments or amortization can change. Hybrid splits the mortgage to balance risk. We model total cost, prepayment penalties, and renewal horizon so the choice fits your cash flow. Compare structures in the Product Comparison Guide.
How do prepayment privileges and amortization changes work at renewal?
Many lenders let you increase payments or make annual lump sums without penalty. You can also shorten or extend amortization to adjust monthly cost. We negotiate these features along with rate so you have flexibility to pay down faster when life allows. Test payment impact with the Mortgage Payment Calculator.
My lender’s renewal offer looks high. How do I negotiate a better mortgage renewal rate in Canada?
Ask for their best discretionary rate, then benchmark it against quotes from other lenders. We package your file once and make lenders compete on rate, term length, and features. Timing matters, so we watch rate holds and re-shop if pricing improves before you sign.
Can I roll debts into my mortgage at renewal in Canada?
Yes, many households consolidate high-interest balances at renewal if there is room within loan-to-value limits and income ratios. We map costs, payment savings, and a plan to avoid re-borrowing. See the Debt Consolidation Mortgages guide.
Do I need an appraisal or new documents to renew my mortgage in Canada?
If you stay with your current lender, renewals can be streamlined with minimal documents. Switching lenders usually requires updated income proofs, property tax info, and sometimes an appraisal to confirm value. We time any appraisal carefully to keep costs low and the process fast.
