How to Save Thousands on Your 2025 Mortgage Renewal?
With nearly 40% of Canadian mortgages renewing this year, many homeowners—especially those who are self-employed—are facing higher rates, fewer options, and more paperwork. If you’re currently with an alternative lender like Home Trust or Community Trust, here’s how you can take control of your renewal and potentially save thousands.
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Don’t Just Accept the Renewal Offer
Alternative lenders are in the business of making money—not giving the best renewal rates. Many assume you won’t negotiate, so they don’t offer their best terms upfront. Instead of renewing blindly, explore your options. You have more power than you think
Explore All Financing Routes
If you need to access equity from your home—say for renovations or debt consolidation—you’ve got several choices:
- Refinance with your current lender: Start by seeing what your lender offers, but don’t stop there.
- Second mortgage or home equity loan: If a full refinance doesn’t make sense, a second mortgage could help you access funds while keeping your original loan intact.
- Switch to another lender: You might qualify for a better rate or more flexibility with other alternative lenders or credit unions.
Self-Employed? Let Tech Simplify the Process
Income verification can be a headache for business owners. Cannect uses secure financial tools like Flinks to access your bank data safely and reduce the paperwork required. If your home equity is strong, minimal documentation may be enough.
Know All Your Options in One Place
Through the Cannect Borrower Portal, you’ll get a full breakdown of all your options—refinancing, second mortgage, or switching lenders—with clear comparisons on interest rates, monthly payments, and pros/cons for each. No guesswork. Just informed choices.
Work with Experts Who Work for You
At Cannect, we don’t just find you a lender—we become your mortgage partner. We advocate for your best outcome, streamline the paperwork, and guide you every step of the way.
Ready to renew smarter, not harder? Reach out to Cannect today and get expert advice without the usual stress.
Watch our Make Money Count podcast for expert tips, market updates, and smart strategies for moving to the Canadian mortgage landscape in 2025 and beyond.
