Renewing your mortgage in Mississauga?
Don't sign your lender's renewal letter without comparing first. Get a free personalized guide and a match to a licensed Ontario broker who shops 30+ lenders for you.
Get Your Free GuideGreater Toronto Area • Population: 720,000+
What Mississauga homeowners need to know about mortgage renewal
If your mortgage is coming up for renewal in Mississauga, you're not alone. Thousands of Ontario homeowners face this decision every month. The key mistake most make: signing the renewal letter from their current lender without shopping around.
Your lender's first renewal offer is typically 0.15% to 0.40% above the best available rate. On a $400,000 mortgage, that difference costs $1,000 to $4,000+ over a five-year term. A licensed Ontario mortgage broker can shop 30+ lenders for you at no cost. They're paid by the lender, not by you.
Since the 2024 stress-test exemption for uninsured straight switches at renewal, switching lenders has never been easier. Learn more about the 2024 rule change.
Figures shown are indicative and for general information only, subject to qualification and lender approval, OAC. Not a quote. A licensed mortgage broker provides your personalized quote.
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Mortgage renewal FAQ for Mississauga
What should I do before signing my mortgage renewal in Mississauga?
Never sign the first renewal offer without comparing. Mississauga homeowners with higher property values often have significant negotiating leverage. Get quotes from multiple lenders. A licensed broker can do this for you, free of charge, shopping 30+ lenders at once.