Your bank's renewal offer is never their best. Sarah Colucci shops 50+ lenders at your renewal so you get the lowest rate available in Ontario — not just what your lender prints on a letter. Most clients save $3,000–$15,000 over a 5-year term. Free consultation. Call 647-773-4849.
Mortgage eligibility and pricing depend on the property, requested loan amount, verified income, credit history and each lender's current guidelines. Sarah reviews the complete application rather than relying on one advertised rate or one automated rule.
Sarah Antonia Colucci is a licensed Mortgage Agent Level 2 with access to more than 50 lenders. She compares available mortgage structures, explains costs and restrictions, and identifies the documents a lender will need before an application is submitted. The initial consultation is free, and recommendations remain subject to lender review, property acceptance and full underwriting.
A useful review normally includes the mortgage balance or purchase price, available equity or down payment, household income, monthly obligations, credit history and the client's short- and long-term plans. Looking at these details together helps distinguish a low headline rate from a mortgage that actually fits the client's situation.
Start 90–120 days before your renewal date. Most lenders allow early renewals without penalty, and I can lock in a rate hold while you compare options. Don't wait until your bank sends the renewal letter — that gives them home-field advantage.
Yes — switching lenders at your renewal date is one of the few times you can change lenders without paying a penalty. There may be a small legal/appraisal fee (usually $500–$1,000), but the rate savings almost always cover this in the first few months. I'll calculate the exact break-even for your situation.
The typical spread between a bank's first renewal offer and the best available market rate is 0.40%–0.70%. On a $600,000 balance over 5 years, that difference is $12,000–$21,000 in extra interest paid. I present the market rate — not a negotiating position.
A renewal replaces your existing mortgage at the end of its term — same balance, new rate and term. A refinance is a new mortgage altogether, potentially accessing equity, changing the amortization, or consolidating other debts. I'll tell you which makes more sense for your situation.
A low appraisal can limit a new lender's advance; a private lender who will not renew requires a payout plan before maturity.
For a personalized review, call Sarah at 647-773-4849 or request a free consultation. Rates, qualification and product availability can change without notice and are confirmed only through a complete lender application.