Get a Better Rate and Term Before Your Mortgage Renews
When your mortgage term is coming to an end, it’s an opportunity—not just a routine step. At Brevity Mortgages, we help you review your current situation, explore better rates, and adjust your mortgage to fit your goals today.
Whether you’re looking to lower your payments, access equity, consolidate debt, or simply secure a more competitive rate, we guide you through your renewal with clarity and confidence. Many homeowners automatically renew with their current lender without realizing they have options—this is where we step in.
How We Can Help
We save you time and money by comparing lenders, negotiating on your behalf, and ensuring your mortgage aligns with your current financial situation and future needs. We’ll help you decide whether switching lenders is a good choice for you. With the right strategy and a broker by your side, you can potentially save thousands on your mortgage.
Contact NowHow to Renew Your Mortgage for the Best Rates
To ensure you get the best deal, mark the date your mortgage term ends on your calendar. Begin the renewal process 120 days before the end of your term this is the ideal time to secure early renewal rates. Most lenders allow early renewal with no prepayment penalty. Even before you meet with your lender or mortgage broker, you can start by researching available mortgage rates, prepayment options, and other terms online. This will give you a strong position when it's time to negotiate.
Four Key Considerations Before You Renew
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Evaluate Your Financial Goals
Major life changes such as bankruptcy, job loss, or retirement can affect your finances. Take stock of your financial situation to determine whether the renewal terms align with your long-term objectives.
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Prepare for the Final 30 Days
As your mortgage term nears its end, your lender is required to send you a renewal notice at least 21 days before your term expires. However, you can usually receive a renewal offer with the best available rate 30 days in advance.
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Be Ready to Make a Decision
After reviewing all options, take action. Weigh your financial goals, the terms of your mortgage, and the renewal offer from your current lender. Once you're ready, choose the best option for your needs.
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Maximize Your Leverage
Do your research to find out which lenders offer the best rates and terms. Knowing your options ahead of time will give you the confidence to negotiate the best deal.
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Frequently Asked Questions
When your mortgage term ends, you can renew with your current lender, switch lenders, refinance your mortgage, or negotiate a new mortgage term and rate.
Yes, mortgage renewal rates are often negotiable. Comparing offers from multiple lenders may help you secure better terms.
Some lenders allow early renewals before maturity. This may be helpful if interest rates are expected to increase.
Yes, many homeowners switch lenders at renewal to secure better rates, flexible terms, or improved mortgage features.
Before renewing, review interest rates, payment flexibility, prepayment options, penalties, portability, and your long-term financial goals.
