Renewal Timeline Guide
Mortgage Renewal Timeline:
Plan 120 Days Ahead
Most Canadians start thinking about renewal in the final 30 days. That's 90 days too late. Here's your month-by-month checklist to maximize your rate and minimize stress.
Get the ChecklistStart Here
Month 4 Before Maturity (120 Days)
- Request your maturity date and current mortgage balance in writing from your lender
- Get your current lender's early renewal offer (don't sign yet)
- Contact Deane to begin shopping 50+ lenders simultaneously
- Assess whether you want to renew, refinance, or access equity
- Pull your credit report — confirm no errors before applying anywhere
Rate Shopping
Month 3 Before Maturity (90 Days)
- Review broker-sourced rate quotes against your current lender's offer
- Compare total cost: rate, prepayment privileges, penalties, portability
- Use the renewal savings calculator to quantify your options
- Decide: stay with current lender or switch?
- If switching, confirm you're gathering required documentation
Decision Time
Month 2 Before Maturity (60 Days)
- Submit formal application to chosen lender (or confirm renewal with current)
- Provide all documentation: pay stubs, T4s, NOA, property tax bill
- Review and sign the commitment letter from new lender
- Arrange home appraisal if new lender requires it (usually not for renewals)
- Confirm transition timeline and maturity date with broker
Final Steps
Month 1 Before Maturity (30-Day Sprint)
- Confirm all outstanding documents submitted and approved
- Obtain legal discharge documents from current lender (if switching)
- Review final mortgage documents: rate, term, amortization, payment date
- Sign and return all documents before the maturity date
- Confirm funding date and first payment date
Start Your Renewal Clock
Deane will track your timeline and prompt you at each stage — so nothing slips through.
Get StartedGet Started on Your Renewal
Tell Deane when your renewal is. He'll begin shopping rates and keep you on schedule.
Schedule Your Free Consultation with Deane
Takes 2 minutes. Deane will respond within 24 hours with personalized options.
Renewing in the Next 120 Days?
Let Deane shop 50+ lenders so you get the best rate — free service.