What happened
Many lenders contact borrowers before maturity, but early offers should still be compared carefully.
Why it matters
Ontario homeowners may have time to review payment impact, penalties, and transfer options.
What it means
Start 120 to 180 days before maturity when possible.
Detailed insight
Plain-English breakdown
A renewal letter is an offer, not the whole market. The earlier you review it, the more time you have to compare outside options, understand transfer costs, and decide whether payment certainty or flexibility matters more.
Starting 120 to 180 days ahead gives enough runway to gather documents, compare lenders, and protect yourself if rates or conditions change. Waiting until the final few weeks can reduce negotiating leverage.
The review should compare the current lender offer, alternate lender options, payment changes, prepayment features, penalty method, portability, and any plans to sell, renovate, refinance, or consolidate debt during the next term.
How I can help
I can review your renewal offer and explain what to ask next.