A practical renewal checklist
- Find your maturity date and ask whether your mortgage renews automatically.
- Compare offers using the same balance, amortization and term.
- Ask who pays transfer, discharge, registration and any appraisal costs.
- Confirm the new lender’s documentation requirements before committing to a switch.
Prepare your Fort McMurray renewal file
Document your own circumstances instead of assuming that a city-wide rule determines your options.
- Income or work pattern changed?
- If your work includes variable hours, overtime or contract income, flag any change since your last application. Ask what the new lender needs to review; a stress-test exemption is not a promise of approval.
- Property details changed?
- Tell the professional about renovations, rental use or a change of address. Ask early about valuation and insurance requirements for your specific property.
- Check the cost of moving the mortgage
- Request an itemized switching estimate and confirmation of any costs the new lender will cover. Review a collateral charge or a linked credit line with the professional before deciding.
- Keep your existing offer available
- Compare it with a written alternative. Staying may be the practical choice if costs or conditions outweigh the benefit of moving; the lowest headline rate is not the whole decision.
Prepared by Alberta Mortgage Match · Updated 2026-10-23. General information; confirm your situation with a licensed professional.
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Start my free match →Fort McMurray mortgage renewal — frequently asked questions
Does switching lenders mean no income review?
No. Certain straight switches may be exempt from the prescribed stress test, but a new lender still decides whether to approve your application. Ask which rules and document requirements apply to your mortgage.
What if I want to borrow more at renewal?
Tell the professional before comparing offers. Increasing the balance or changing the repayment arrangement may make this a refinance rather than a straight switch, with different requirements and costs.
Can I compare payments before sharing my contact information?
Yes. Our renewal savings calculator works without a signup. Enter the rates you have actually been offered and estimated switching costs; its results are estimates, not a lender quote.
Free tools for your numbers
Renewal savings calculator →
See what switching lenders could save vs. your bank's offer.
Mortgage renewal guide →
The 120-day timeline and the no-stress-test switching rule.