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Homeowner hub: your mortgage doesn’t end at the keys.

Most homeowners never look at their mortgage again until renewal — and that’s exactly where money slips away. Here’s how to optimize it while you own, renew it on your terms, and use your equity when the time is right. Start with a free annual check-up.

Free & no-obligation · open to any homeowner · FSRA #13737

Book your free annual mortgage check-up

A 15-minute review — is your rate still competitive, and is your mortgage still the right one?

No obligation. We’ll only contact you about your check-up. Or ask Maya now.

The homeowner mortgage lifecycle

From the day you close to the day you renew — and every optimization in between.

Stage 1
You just got the keys

The first 90 days set the tone. Confirm your payment and frequency, learn your prepayment privileges (most mortgages let you pay extra penalty-free), and get your property tax and insurance squared away.

Payment calculator Accelerated bi-weekly Prepayment & penalties
Stage 2
Own & optimize

Don't set it and forget it. An annual check-up catches a rate that's drifted off-market, unused prepayment room, and equity that's quietly opened up new options. Small moves now compound over the term.

HELOC / access equity Where rates are heading Set a rate-watch reminder
Stage 3
Renewal runway

About 120 days out is the moment that matters: many lenders will hold a rate or allow early renewal from around then (a lender practice, not a legal rule), so we can lock a rate and shop the whole market before your renewal letter arrives. Don't auto-renew.

Renewal centre Free renewal reminder Renewal payment estimate
Stage 4
Refinance & grow

When the math works, your mortgage becomes a tool: a lower rate, debt consolidated at mortgage rates, a renovation funded, or the down payment on your next property. We model the net-of-penalty numbers so you only move when it pays.

Refinance Consolidate debt Buy an investment property

Stay ahead of the rate cycle

Rates move with the Bank of Canada and the bond market. Track every decision and set a reminder so you act at the right moment — not the day your renewal letter arrives.

BoC rate decision trackerMonthly market report Set a renewal reminder
FAQ

Homeowner questions

What is an annual mortgage check-up?
A short, no-obligation review of your existing mortgage: is your rate still competitive versus today's market, are you using your prepayment privileges, has your equity opened up options (a HELOC, a refinance, an investment property), and when is your renewal? Most homeowners never review their mortgage between signing and renewal — and that's exactly where money is left on the table.
When should I start thinking about my renewal?
About 120 days before your maturity date. That isn't a legal rule, but many lenders will hold a rate or let you renew early from around then, so we can lock a rate and shop the market before you're cornered into your bank's first offer. By law, a federally regulated lender only has to send your renewal statement at least 21 days before the term ends1. Set a free renewal reminder and we'll reach out at the right time.
Can I switch lenders at renewal without a penalty?
Usually yes. At the end of your term you can transfer to a new lender on a straight switch with no prepayment penalty, and the new lender frequently covers the basic transfer costs. Since November 21, 2024, a straight switch (same balance and amortization) no longer requires the stress test at federally regulated lenders, even for uninsured mortgages2. Most people just don't realize they can, so they auto-renew.
How do I know if refinancing is worth it?
It depends on your rate, your remaining term, your penalty to break, and what you'd use the funds for (a lower rate, debt consolidation, a renovation, or a down payment on an investment property). We model the net-of-penalty math so you only refinance when the numbers actually work — and tell you plainly when they don't. Breaking a fixed term usually costs the greater of three months' interest or an interest-rate differential3.
Do I have to be a Mortgage Squad client to get a check-up?
No. The annual check-up is free and open to any homeowner, whether your mortgage is with us or not. Ask Maya anytime, or book a 15-minute review with a licensed advisor.

Sources

Primary sources for the rules and figures above. Rules, rates and lender policies change, so confirm anything you plan to act on with a licensed advisor.

  1. 1. Financial Consumer Agency of Canada, Renewing your mortgage: Federally regulated lenders must send a renewal statement at least 21 days before the term ends (and 21 days' notice if they won't renew).
  2. 2. OSFI, OSFI exempts uninsured mortgage straight switches from the prescribed minimum qualifying rate: From November 21, 2024, uninsured straight switches at renewal (no increase in amount or amortization) are exempt from the minimum qualifying rate at federally regulated lenders.
  3. 3. Financial Consumer Agency of Canada, Understanding and reducing prepayment penalties: How lenders calculate three months' interest and the interest rate differential (IRD), including the posted-rate-minus-original-discount method.

Is your mortgage still working for you?

Fifteen minutes could save you thousands over your term. Book a free annual check-up — no obligation, any lender.

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