Your mortgage may run 30 years (amortization period), but with a 5 years or less mortgage term—the length of time that your agreed interest rate is in effect—most mortgages must be renewed five or more times before they are paid in full and can be discharged.
You may choose to renew with your current lender or work with a mortgage broker to secure the best possible interest rate, or you may look for the best deal yourself. However you choose to renew the term of your mortgage, a lawyer will need to register the new mortgage term with Land Titles.
Whether you are refinancing to secure a better rate, tackle some home improvements, or simply because your mortgage term is up for renewal, once we receive your mortgage instructions, we have the expertise to guide you through the refinance process.