Helen MacDougall, BBA (Senior Mortgage Advisor)

Whether you are buying a new home, renovating and transforming your old one, or simply consolidating some debts, finding the best possible financing is an important part of your personal financial strategy.... read more

Marlene Gallant (Senior Mortgage Broker)

At The Mortgage Centre, Helen and Marlene’s philosophy is simple; to be the best we can be in servicing your needs. We believe that our customers come first; it is not just a cliché but a commitment we make to all our past and future customers. read more

Tools

Use these free mortgage calculators to help determine your monthly mortgage payments, interest rates, pay-off dates and amortization schedule - or to help you learn more about your existing mortgage. read more

Resources

The more you know, the better your decisions and the more satisfied you'll be with your home loan and with our services. So we put numerous tools and resources at your fingertips.... read more

Early Renewal

Because mortgage rates may fluctuate often, it's beneficial to revisit your current mortgage product, regardless of how long you've had it.

An early renewal involves renegotiating the mortgage term and interest rate before the maturity date.

Some mortgage products allow the borrower to renew their mortgage early at any time during the term.

A prepayment charge may apply if the borrower:

Has a closed-term mortgage
Renews their mortgage before the end of term

Before a client does an early renewal

The client should contact their lender to get details of any prepayment charge or other fees that could be charged for renewing early, and to find out if there are options to capitalize the prepayment charge or if there are any restrictions on what products the client may early renew into.

A Mortgage Centre specialist can shop the market for you and help determine whether, you'll save money by breaking your current mortgage and renewing early. We're happy to discuss the possibilities with you.