Renewing your mortgage

No early renewal penalty

If you’re 6 months or less from your mortgage maturity date, you’re eligible to renew early without penalty.

No re-qualification required

You don't need to re-qualify when you renew with us.

Member-preferred rates

As a Coast Capital member, you can access exclusive mortgage rates. Talk with an advisor today.

1. Speak to our team about your options

Your personal situation may have changed since you purchased or last renewed. Discuss your options and we’ll make a recommendation tailored to you.

Book an appointment

2. Confirm your preferred rate, mortgage term, and product

Renewal time is an opportunity to choose a different type of rate, length of term, or mortgage product. Choose the option that best suits your current situation and where you expect to be in a few years.

3. Explore ways to save money and reduce your debt

Make extra payments towards your principal at renewal, review your payment options, or explore the possibility of using your home’s equity to pay off other debts.

What to know about renewing your mortgage

Renewing your mortgage is a great opportunity to consider how your life and circumstances have changed since you first bought or last renewed.

These factors could impact what mortgage term and type will be best for you.

The top things to keep in mind:

Are rates lower or higher than when you first bought or renewed?
Do you have extra savings or income that you want consider in your payment options?
Will your mortgage payments need to be protected with insurance?
Are you considering using the equity of your home for a renovation or purchase?

Take advantage of exclusive features when you renew with Coast Capital

Customize your payment timing and amount: Select your term length, mortgage type (variable or fixed), and payment timing. You can also make a pre-payment of any amount before you renew to reduce your balance.
Rate offers: Discuss member renewal rate offers with an advisor and the option to hold your rate for a period of time.
Bring your same mortgage to a new home: You can transfer your existing mortgage to a new property and remain with Coast Capital. As long as you meet certain requirements, you can keep your existing interest rate and term without paying a pre-payment penalty.
Manage your debts: Outstanding debts (like credit cards or loans) can potentially be added to your mortgage.