Your Yearly Mortgage Checkup

Our valuable check-up service is free, with no obligation.

If you're an existing client, you don't need to remember to contact us — you'll automatically receive a checkup call. But you're welcome to submit our form (or give us a call) if you'd like to start your checkup right away.

If you're not currently a client — our expert mortgage brokers can quickly offer targeted advice based on the details you provide, no matter your lender.

You can even do it from the comfort of your own home. We make it easy.

1. Re-examine your rate

Do you still have the best rate for your situation? Some fixed rates have recently come down. Mortgage rates can change quickly, especially as markets cool down (or heat up).

• Can you save money with a switch to a lower rate?
• Is it time to lock into a fixed rate or choose a variable rate with adjusting payments (vs. fixed payments)?
• Do you need the lowest open variable rate mortgage in Canada while deciding your next mortgage move?

Depending on the rate difference and any pre-payment penalties involved, your expert broker can help you determine your best savings option if you need some budget room now.

2. Be aware of your renewal options

Is your renewal coming up this year? If you're worried about the budget hit of higher rates waiting, checking in with your expert broker can arm you with great advice.

• Variable rates are expected to start dropping this year (according to the Bank of Canada)
• The sooner you connect with a broker, the quicker you can pull the 'renewal' trigger to get your best rate
• What term length should you choose if rates are on the decline?
• Stretching your amortization may give you some needed budget room
• You have the right to shop around, and our brokers can do the work for you while passing along a rate discount
• Know the rules surrounding your mortgage stress test, especially if you have an insured mortgage

3. Fit out some extra cash for relaxation

You may want to access funds to take a vacation from the economic stress or invest in tax savings products that allow more financial peace of mind. Ask us about a refinance, cash back on your home purchase, or adding a HELOC to your mortgage.

If you're buying a home or switching lenders, check out our short-term Rate Relief™ product for a budget break.

Take a spin with our great calculators to see some numbers, then talk to an expert broker for your exact picture.

4. Get back into shape (debt-wise, that is)

Average household debt increased in 2023, and according to a recent MNP Consumer Debt Index survey, 63% are worried about their ability to repay. Consolidating your other debts into your mortgage payment can help you get in the clear, improve your credit report, plus help you save with a lower interest rate (compared to higher credit card or personal loan interest rates).

5. Access home equity for upgrade energy

How long have you thought about upgrading your home or getting energy-efficient systems in place? Get the cash to get it done with expert, unbiased advice and your lowest possible rate.

6. Pay off your mortgage faster for a savings 'second wind'

• Even a small tweak to your monthly payment schedule can shorten your mortgage length significantly — saving you thousands on interest
• Save up to put down a lump sum through your pre-payment privileges
• Paying more down before your renewal may help you get ahead of higher rates
• Can you recast your mortgage for lower payments?

Working out a strategy now can help you save on interest later. And before you know it, you may be celebrating your last official mortgage payment!

7. Improve flexibility (in your mortgage conditions)

You're only as flexible as your current mortgage agreement allows. Your mortgage review may unearth unsettling restrictions or penalties if you pay down too much, which can cost you more in the long term.

We can help you decide if a change is in your best (mortgage) interest, especially if your future needs are uncertain. At the very least, understanding your mortgage fine print can help you make more informed decisions along the way.

8. Considering a lifestyle change? Get pre-qualified to know your limits

Are you thinking about buying your next home to trade up for more space, or downgrade for less maintenance? Or perhaps you'd like to buy a vacation home or invest in a rental property.

Being as prepared as you can, as early as you can, will help you decide what you can afford, what rate you may qualify for, and how much you'll need for a down payment.

A rate discussion with our expert brokers is always informative. Time your move to save the most!