Mortgage Renewal

Your renewal is a chance to save—not just sign.

When your mortgage comes up for renewal, it’s the perfect time to reassess—not just auto-renew. Lenders count on you signing without asking questions, but with the right strategy, you could negotiate a better rate, lower your payments, or access new features that align with your goals.

At Valko Financial, we don’t just check the box—we explore every option to ensure your renewed mortgage works harder for you. Whether you're looking to reduce debt, access equity, or simply save more each month, we’ll guide you to the smartest choice.

Let’s turn your renewal into an opportunity—not a missed one.

Can I switch lenders at renewal without penalty?

Yes—you can switch lenders at renewal without paying a penalty. When your mortgage term ends, you're free to explore other options and move to a new lender if it means getting a better rate, improved features, or a product that better fits your current needs.

However, while there’s no prepayment penalty, there may be some minor administrative costs (like discharge or legal fees), which are often offset by the savings you gain with a more competitive offer.

How far in advance should I start my renewal?

You can typically start the renewal process as early as 120 days (4 months) before your current mortgage term ends—and we highly recommend you do.

Getting a head start gives you time to shop around, lock in a rate early, and explore options that better suit your financial goals. It also puts you in a stronger position to negotiate with your current lender or switch to a better offer without feeling rushed.

Can I access my home equity during renewal?

Yes, your mortgage renewal is a great time to access your home equity—without paying a penalty. If you’ve built up equity in your home, you may be able to use it to fund renovations, investments, debt consolidation, or other major expenses.

Because you’re not breaking your mortgage early, you can often make changes—like increasing your mortgage amount or switching to a different product—with minimal costs and greater flexibility.

Fantastic experience working with Valko Financial. Matthew was very helpful and kept on top of requirements with both myself and my lawyer. Thank you!

Kelly Zinger

2 days ago

Honesty, Integrity, Commitment & Professionalism! Cindy White checks off each and every box. We truly appreciate and have so much respect not just for your knowledge but also for your guidance. You have always through the years without fail kept our best interest front line and centre. If you were unsure of an answer you found it without hesitation, building a trustworthy relationship one step outta time. My recommendations will always be with you to meet all financial needs! Warmest regards. Nancy & Clarence

CNC

4 days ago

I had an excellent experience with the Tracy Valko team. Santiago and Matt were incredibly helpful, providing clear advice and great mortgage options tailored to my needs. They made the process simple and stress-free, especially with the paperwork, which they handled smoothly and efficiently. I really appreciated their professionalism and support throughout the process. Highly recommend them if you are looking for a mortgage good rate

Diana Carreon

22 days ago

Don’t Just Sign — Strategize.

Let us guide you through a smarter, more profitable renewal. We’ll review your options, negotiate on your behalf, and set you up for long-term success.

Apply Online Start a Renewal Review