What is a mortgage renewal?

Author: Boychuk Mortgage Group |

Think of your mortgage renewal as a golden opportunity in the world of homeownership. It's that exciting moment when the term of your existing mortgage comes to an end, usually after a few years. This is your chance to reassess your financial landscape and plan for your next number of years ahead. You can renegotiate crucial aspects of your mortgage, such as the interest rate and the duration of your term, making it tailor-made for your current needs.