Renewing in Alberta
Compare your mortgage renewal offer with 30+ lenders
Your renewal letter usually arrives about 30 days before maturity, with a posted rate and a place to sign. Before you sign, we'll price your balance with other lenders and show each rate's APR and conditions, and the difference in dollars.
No credit check, and no commitment.
Your renewal snapshot
Updated earlierPublished figures. We calculate the payment from the rate shown beside it.
- Prime rate
- Ask your lender
- Confirm your lender's current prime rate before comparing offers.Where prime sits
- Stress test on a straight switch
- None
- When you move the same balance to a new lender at maturity and don't borrow more.Compare my offer
Rates as of September 21, 2026 at 9:00 a.m. MT, subject to change without notice. O.A.C. Not an offer of credit, a rate hold or a pre-approval. Daniel De Sousa, Mortgage Associate, Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage, a RECA-licensed mortgage brokerage.
- No stress test on a straight switchUninsured straight switches have been exempt since November 2024.
- Rate held 120 daysLock in another lender's rate at no cost while your maturity date gets closer.
- One credit checkOne check covers every lender we compare.
Is this page for you?
Tick anything that sounds like you. If you tick 2 or more, we'll tell you what kind of renewal file you have.
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Why renewing in 2026 is different
Renewal is your chance to compare. Your new payment depends on the rate you’re offered, your remaining balance and your amortization. Compare the total cost and the contract terms before you accept an offer.
The rules also changed in your favour. Since November 2024, an uninsured straight switch no longer requires you to pass the stress test. A straight switch means moving your existing balance to a new lender at renewal without borrowing more. After the change, uninsured switch volumes rose 104% year over year and insured switches rose 117%. Switching is easier than it used to be, and many people haven’t noticed yet.
Roughly two-thirds of Canadians renew without shopping, and lenders price renewal offers with that in mind. You may still end up renewing with your current lender, at a better rate than the letter offered, because you asked.
How it works
How a renewal comparison works
Start about 120 days before maturity. That's the earliest most lenders will hold a rate for you, and a hold costs nothing.
Step 1: Send us your renewal letter
About two minutes
Tell us your maturity date, your balance and the rate your lender offered. There's no credit check at this step, and nothing goes to a lender until you say so.
Step 2: We price it with our lenders
Same business day
We price your balance with 30+ lenders and show you the difference in dollars over the full term. Dollars are easier to budget with than basis points.
Step 3: You decide to stay or switch
2–4 weeks for a switch
If your lender's offer is competitive, we'll tell you to take it. If it isn't, a straight switch at maturity usually costs little or nothing, and many lenders cover the legal and appraisal costs to win your business.
Daniel De Sousa, Mortgage Associate, handles the discharge and the new lender end to end.
The rules
The rules at renewal
At maturity you can move your mortgage without a penalty, and often without a stress test.
Penalty
Estimate a mid-term penaltyNone, at maturity. A renewal or a straight switch on the maturity date carries no prepayment charge. Breaking mid-term does.
This is the main cost difference between a renewal and a refinance.
Stress test
Run the stress testDoesn’t apply to a straight renewal with your current lender, and since November 2024 it doesn’t apply to an uninsured straight switch either.
If you take extra money out, it becomes a refinance and the stress test applies.
Rate hold
Plan my renewalMost lenders hold for up to 120 days. If rates fall while you hold, you get the lower one.
That's why we start 120 days before maturity instead of 30.
Switching costs
Compare my offerUsually little or nothing. Many lenders cover the legal and appraisal costs to win your business. Your current lender may charge a small discharge fee.
We give you the total cost before you commit to anything.
Doing nothing
Most lenders auto-renew you, often into a shorter term or a posted rate. A posted rate is usually higher than the discounted rate you’d get by asking or comparing.
The signing window is roughly the last 30 days before maturity.
Your credit
One check causes a small, temporary dip that fades within months. Applying to 6 lenders yourself would mean 6 checks. Applying through us means one.
Payment shock
Find out your new payment before the letter arrives
If your mortgage started at pandemic-era rates, your payment at renewal could change a lot in 2026. You can work it out in about 30 seconds, and knowing early gives you more options.
A $500,000 balance, renewing today
$2,655/mo
At 4.09%, 25-year amortization, monthly payments, semi-annual compounding.
Switch to accelerated bi-weekly and the same balance at the same rate costs $1,327 every two weeks. That works out to 13 monthly payments a year instead of 12, and $42,477 less interest over the amortization.
If you have a variable rate with a fixed payment
Your payment may be the same, but the split has changed. In a fixed-payment variable mortgage, when rates rise, more of each payment goes to interest and less to principal.
Your trigger rate is the rate at which your whole payment goes to interest and none of it reduces your balance. Above that rate, your balance can grow. If your rate has moved a lot since you signed, check where you stand before you renew, because it affects which term makes sense for you.
Renew, switch or refinance
Each option has different costs and rules. Most renewal letters only mention the first one.
| Measure | Renew with your lender | Switch to a new lender | Refinance |
|---|---|---|---|
| Best for | A competitive offer, or a file that won’t move easily | A better rate on the same balance | Changing the amount or the structure |
| Penalty | None | None, at maturity | Yes. See the penalty math |
| Stress test | No | Usually no on an uninsured straight switch | Yes |
| Legal / appraisal fees | None | Often covered by the new lender | Usually yours |
| How long | Sign the letter | 2–4 weeks (start about 120 days out) | 2–4 weeks |
Roughly two-thirds of Canadians renew without shopping, and lenders price renewal offers with that in mind.
Your renewal timeline
Work back from your maturity date. Here's what to do and when.
180 days out
Find out your maturity date and your balance. Start watching rates.
Step 1 of 5120 days out
Get a rate hold. Most lenders hold for 120 days. This is the earliest you can lock in another lender’s rate, at no cost and no risk.
Step 2 of 590 days out
Your lender's letter is on its way. Have your comparison ready before it arrives.
Step 3 of 560 days out
Decide. A switch takes about 2 to 4 weeks to process.
Step 4 of 530 days out
Signing window. Don’t let it auto-renew into a variable or a posted rate by default.
Step 5 of 5
More than 120 days out? Plan your renewal timeline and set reminders in your own calendar.
Today's rates
Today's mortgage renewal rates
We'd price your balance against these rates. Bring the rate from your letter and we'll show you the difference in dollars over the full term.
Effective September 21, 2026 at 9:00 a.m. MT
| Term | Rate | APR | Payment per $100,000 | Who it’s for | Get this rate |
|---|---|---|---|---|---|
| 5-year fixed | 4.09% | 4.14% | $531/mo | Uninsured | Hold this rate |
| 3-year fixed | 4.04% | 4.09% | $528/mo | Uninsured | Hold this rate |
| 2-year fixed | 4.49% | 4.54% | $553/mo | Uninsured | Hold this rate |
| 5-year variablePrime − 0.25% | 4.20% | 4.25% | $537/mo | Uninsured | Hold this rate |
| 1-year fixed | 4.99% | 5.04% | $581/mo | Uninsured | Hold this rate |
Payment per $100,000 assumes a 25-year amortization, monthly payments and semi-annual compounding. We calculate it from the rate in the same row. Run it on your own number.
Rates shown are current as of September 21, 2026 at 9:00 a.m. MT and are subject to change without notice. Rates are available on approved credit (O.A.C.) only, are subject to the terms and conditions of the applicable lender, and may vary based on your credit history, income, down payment or equity, loan-to-value, property type and location, occupancy, amortization, and whether the mortgage is insured, insurable or uninsured.
Annual percentage rates (APR) shown assume a mortgage amount of $500,000, an amortization of 25 years with monthly payments, and include no lender or brokerage fees. Fixed rates are compounded semi-annually, not in advance, as required under section 6 of the federal Interest Act; variable rates are compounded monthly. Payment figures exclude property taxes, heating, condominium fees and default insurance premiums unless stated. Insured rates require mortgage default insurance and are available only on qualifying transactions.
Rates may contain errors or omissions and do not constitute an offer of credit, a rate hold or a pre-approval. Not all applicants will qualify. Contact Daniel De Sousa, Mortgage Associate, to confirm the rate available to you. Daniel De Sousa is licensed by the Real Estate Council of Alberta (RECA) and registered with Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage.
Shorter terms cost more today but come back to market sooner. The right one depends on where you think rates are going and how much certainty you want to pay for. We’ll lay out both options and you choose.
What a variable rate means for your payment. With a variable-rate mortgage your interest rate moves with your lender’s prime rate. Depending on the product, either your payment changes with the rate, or your payment stays the same and the split between principal and interest changes. With a fixed-payment variable mortgage, if rates rise far enough your payment may no longer cover all the interest you owe. That point is called your trigger rate. Past it, your balance can grow instead of shrink. This is called negative amortization, and your lender will typically require you to increase your payment or make a lump-sum payment. We’ll show you your trigger rate before you choose a variable product, and we’ll tell you what happens if you reach it.
Calculators
Run your own numbers
Free, with no email required. They use Canadian rules: semi-annual compounding, the down payment ladder and the stress test.
Payment shock
Your payment at renewal, and 3 ways to bring it back down.
Renewal comparison
Your lender's offer next to today's published rates, in dollars over the full term.
Mortgage payment
Payments at every Canadian frequency, plus the full amortization schedule.
Mortgage penalty (IRD)
If you're breaking early, see the penalty both ways: IRD and 3 months' interest.
Prepayment
How much a lump sum or a higher payment at renewal saves you.
Fixed vs variable
How far variable rates would need to fall to beat fixed, and how long that could take.
Daniel De Sousa, Mortgage Associate with Indi Mortgage
Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage · RECA licensed · 4990 92 Ave NW #105, Edmonton. Verify our licence on RECA ProCheck(opens in a new tab)
Client reviews posted here are unedited, and each one names who handled the file. We don’t pay for reviews or filter them.
Daniel De Sousa
Mortgage Associate, Indi Mortgage
Handles renewals and straight switches, fixed-payment variable mortgages approaching a trigger rate, blend-and-extend math. Licensed by the Real Estate Council of Alberta and registered with Indi Mortgage, working out of the Edmonton office at 4990 92 Ave NW #105. Verify our licence on RECA ProCheck(opens in a new tab)
Daniel De Sousa, Mortgage Associate, is licensed by the Real Estate Council of Alberta (RECA) and registered with Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage, a mortgage brokerage licensed by RECA. Verify our licence on RECA ProCheck(opens in a new tab)
Monday–Friday, 9:00 a.m.–5:00 p.m. Mountain Time. Closed Saturday and Sunday. Book 15 minutes if that’s easier.
Mortgage renewal questions
Is my bank's renewal offer negotiable?
Almost always. A written offer from another lender gives you the most bargaining power, because lenders keep their sharpest pricing for customers who might leave. You may still renew with your current lender, at a better rate than the letter offered, because you asked.
Does switching lenders cost me anything?
Usually little or nothing on a straight switch at maturity. Many lenders cover the legal and appraisal costs to win your business. Your current lender may charge a small discharge fee. We’ll give you the total cost before you commit.
Will switching hurt my credit score?
Only a little, and not for long. One credit check causes a small, temporary dip that fades within months. Applying to 6 lenders yourself would mean 6 checks. Applying through us means one.
What happens if I do nothing?
Most lenders auto-renew you, often into a shorter term or a posted rate. A posted rate is usually higher than the discounted rate you’d get by asking or comparing.
Can I renew early?
Sometimes. A blend-and-extend mixes your current rate with today’s rate over a longer term, without a full penalty. Whether it’s worth it depends on the blended rate, so the numbers need to be run. Ask us and we’ll run them.
Do I have to pass the stress test to renew?
No, not to renew with your current lender. A straight renewal has never required it. Since November 2024, an uninsured straight switch to a new lender doesn’t require it either, as long as you move the same balance and don’t take extra money out. If you take money out, it becomes a refinance. Then the stress test applies at the greater of 5.25% or your new rate plus 2 points, which is currently 6.09%.
How early should I start?
About 120 days before your maturity date. That’s when most lenders will hold a rate for you. A hold costs nothing and doesn’t commit you to anything, and if rates fall before you sign, you get the lower one. If you start at 30 days, you’ll be negotiating without another offer in hand.
Should I take a shorter term this time?
It depends on your situation. A shorter term costs more today but comes back to market sooner. A 5-year fixed gives you certainty, at a price. We can show you both payments, the total interest over each term, and how far rates would have to move for the other choice to come out ahead. Compare fixed against variable.
Related mortgages
Send us your renewal offer
Fill in 3 fields. Daniel, a licensed mortgage associate, will come back with the difference in dollars over the full term, and will tell you if your lender's offer is already the right one.
- We compare your offer with our whole lender panel.
- You get the total switching cost before you commit to anything.
- If it makes sense, we'll hold another lender's rate for up to 120 days.
Prefer to talk? (825) 797-5417 · Mon–Fri 9–5 MT
How we get paid. Daniel De Sousa arranges mortgages through Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage, a licensed mortgage brokerage, not a lender. The brokerage and Daniel are compensated by the lender you choose when your mortgage funds (paid by the lender, not by you). Compensation varies by lender and product and doesn’t change the rate you’re quoted. A lender fee or brokerage fee is uncommon and happens mainly on alternative or private lending. If one applies to your file, we’ll disclose the exact amount in writing before you sign anything. We’ll tell you if any product we recommend pays us more than an alternative we considered. Before we start work on your file, you’ll receive a written service agreement setting out our services, our compensation and any fee that applies to you.
Get your renewal priced before you sign
It takes about two minutes, with no credit check. You'll see how your lender's offer compares with other lenders, in dollars over the full term.
No credit check, and no commitment.