Renewing your mortgage is fairly straightforward. If your mortgage loan is not fully paid off at the end of your term, you and your lender may renew your mortgage loan agreement for the remaining amount, with a new term and interest rate.

• the type of mortage you have (closed vs open to prepayment, fixed vs variable interest rate)
• the amount and frequency of your payments

Explore your options and decide what works best for you.

Refinancing your mortgage means you have decided to borrow more money. It's simply another way to take advantage of the equity you've built in your home.

If you refinace at the end of your mortgage term, you'll avoid any prepayment fees. If you do decide to refinance before your term is done, we will help you determine the best option based on your current circumstances.