Mortgage renewal in Alberta
Mortgage renewal in Alberta, even if your bank says no
Renewal is the one time you can usually move your mortgage, or roll debts into it, without a penalty. Don’t just sign the renewal letter. We compare 50+ lenders, including ones who say yes when your bank won’t.
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- Licensed with RECA
- Approval answers in 12–24 hours
- 50+ lenders compared
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The short answer
When your term ends, you can renew with your current lender, switch to a new one, or refinance to combine debts. If your bank won’t renew because of your credit, a consumer proposal or tax owing, other lenders may. Start looking a few months before your renewal date. The review is free, with no obligation.
- Usually no penalty at renewal
- Options when your bank says no
- Every cost in writing before you sign
Is it right for you?
If your current lender offers a good deal and you have no other debts, renewing as-is may be fine. We’ll tell you.
A good fit if you…
- have a renewal coming up in the next few months
- were told your bank won’t renew, or will only renew on poor terms
- have credit cards or loans you would like to roll into the mortgage
- have had credit trouble, a consumer proposal, or tax owing since your last term
- want someone to compare lenders for you instead of signing the first offer
Not a good fit if…
- your lender’s offer is already competitive. Switching costs time, legal fees and an appraisal.
- you would add debt with no plan to stop it growing again. A bigger mortgage and new card debt is the worst outcome.
- the new payment would be a stretch. Your home secures the loan.
- your renewal is more than a year away. Breaking early may mean a penalty. Talk to us about timing.
- you are only shopping for a lower rate number. We focus on what the whole mortgage costs you, not a headline rate.
How it works, step by step
1
Free review
Tell us about your home, your mortgage and what you owe. It’s free, with no obligation and no judgment.
2
Quick approval
We compare 50+ banks, credit unions and private lenders. Approval answers typically come back in 12–24 hours, with every cost in writing.
3
Start saving
Your lawyer moves the mortgage to the new lender on your renewal date and pays off any debts you combine. You start your new term with one payment.
An example
Rolling $50,000 of card debt into the mortgage at renewal cut the monthly total by about $600.
Illustrative example
$400,000 mortgage at renewal · $50,000 of card debt
Today: mortgage + card interest
$3,275/mo
Using the debt consolidation calculator’s starting numbers
After: 1 payment
$2,671/mo
Back in your pocket
$604/mo
What changed
- Debt rolled in
- $50,000
- Monthly total
- $3,275 → $2,671
- Saved each month
- $604
- Saved each year
- $7,250
Why renewal is the moment. Mid-term, breaking a mortgage can cost a penalty. At renewal there usually isn’t one, so combining debts often costs least then.
Example only, using the debt consolidation calculator’s starting numbers: a $400,000 mortgage over 25 years plus $50,000 of debt at 20%, combined at 5.5%. These are estimates you can change in the calculator, not a quote. Your rate depends on your equity, credit, income and property. Subject to lender approval (O.A.C.).
What could you save at renewal?
Move the sliders to match your mortgage and any debts you would roll in.
What it costs
Your rate depends on your situation, not a sticker price. You’ll see every cost in writing before you sign anything.
Your review
$0
- Free, with no obligation
- We look at your mortgage, your debts and your home’s value
- Approval answers typically in 12–24 hours
Bank refinance
Lowest rates available
- For steady income and good credit
- Borrow up to 80% of your home’s value, minus what you owe
- Paid off over up to 30 years, with terms up to 5 years
Second or private mortgage
Higher rate, built for flexibility
- For consumer proposals, CRA debt or when the banks say no
- Usually a 12-month, interest-only term, then renewed or refinanced
- Lender and brokerage fees apply. We show you the exact amounts upfront.
What sets your rate: how much equity you have, your credit, your income, and your property. Before you commit, we give you your exact rate, every fee, your monthly payment and your total cost of borrowing in writing. All mortgages are subject to lender approval (O.A.C.). Licensing and disclosures.
Get your real numbers. Free review, answer in 12–24 hours.
Why homeowners choose MortgageSolvers
6,132
Rates lowered
Homeowners whose mortgage rate we have brought down.
50+
Lenders compared
Banks, credit unions and private lenders, so you don’t have to tell your story ten times.
12–24 hrs
Fast answers
Approval answers typically come back in 12–24 hours, with every cost in writing.
$300–$700
Typical monthly savings
What clients typically save each month on a refinance. Your own numbers come in writing first.
Real homeowners. Real monthly relief.
From 180+ Google reviews by Alberta homeowners.
★★★★★
Great service always available to give you updates look for and willing to give you the best rates which saves you thousands Thanks for your hard work I am grateful for The support,help and savings
Branson · Airdrie, ABRead Branson’s review on Google (opens in a new tab)
★★★★★
We were in a very stressful financial situation before working with MortgageSolvers. Our private mortgage rate was high, credit card balances were building up, and the banks were not giving us any real solutions. From the very first call, everything was handled professionally and transparently. They took the time to review our entire situation, explained all fees upfront, and clearly outlined what was possible and what wasn’t.What really stood out was the honesty. There were no hidden charges, no last-minute surprises, and no unrealistic promises. In the end, our monthly payments were reduced significantly and we finally feel back in control of our finances. If you’re feeling stuck, I highly recommend speaking with MortgageSolvers.
Bibek · AlbertaRead Bibek’s review on Google (opens in a new tab)
★★★★★
I was treated with care and dignity. The staff were outstanding! Not only did they get me a lower interest rate, but saw a flaw in my past financial mess and made me aware of a serious issue that was not my fault. The team and my lawyer attacked the situation with pure dedication and got me a pay out that was much more than expected. It seems this company cares and will go to the mat for you. They did for me! Thank you, so, so much!!!
Nicole · Camrose, ABSent to us by Nicole
★★★★★
Smooth steps during process. Communication and professional.
Chad · Grande Prairie, ABRead Chad’s review on Google (opens in a new tab)
★★★★★
Amazing experience! Got a mortgage to payoff my property tax bill in 48 hours!
Ethan · AlbertaRead Ethan’s review on Google (opens in a new tab)
★★★★★
They helped me get the lowest interest rate so quickly
Julian · AlbertaRead Julian’s review on Google (opens in a new tab)
★★★★★
I was overwhelmed with debt and high payments. MortgageSolvers walked me through everything clearly and reduced my monthly payments more than I expected. No hidden fees, no pressure. Just honest advice and real results.
Wanda · AlbertaRead Wanda’s review on Google (opens in a new tab)
★★★★★
Fast, organized, and responsive. MortgageSolvers kept us updated throughout the entire process and closed on time.
Rahul · AlbertaRead Rahul’s review on Google (opens in a new tab)
★★★★★
MortgageSolvers helped me get a mortgage last year and it was the best decision I made 🙏
Craig · AlbertaRead Craig’s review on Google (opens in a new tab)
Questions people ask
When should I start looking at my renewal?
A few months before your renewal date. Starting early gives you time to compare offers before the renewal letter from your lender becomes your only choice.
My bank won’t renew my mortgage. What can I do?
Other lenders may. We compare 50+ banks, credit unions and private lenders, including lenders who look mainly at your home’s equity.
Can I switch lenders at renewal?
Yes. At the end of your term you can move to another lender, usually without a penalty. Legal and appraisal costs may apply, and some lenders cover them.
Can I add debts to my mortgage at renewal?
Often, yes, if you have equity. That makes it a refinance, and most lenders lend up to 80% of your home’s value.
What if I do nothing?
Your lender may renew you automatically on its own terms. It is worth comparing before you sign.
How fast can I get an answer?
Approval answers typically come back in 12–24 hours.
Related options
Find out what you could save.
A free, no-obligation review. We’ll look at your current mortgage and show you exactly how much you could be saving. No pressure. Just numbers.