At renewal, you might choose to:
- Increase your mortgage payments to reduce your total interest cost and be mortgage-free sooner
- Select a mortgage with a longer term than you originally had to lock in a rate for a longer period of time
- Select a mortgage with a shorter term to give you the flexibility to change your choices sooner
- Switch from a variable to fixed rate mortgage (or vice versa)
- Switch from an open to a closed mortgage (or vice versa)
- Pay down your principal without a prepayment charge
- Refinance and access the equity in your home to fund additional goals
How we can help
If your mortgage is up for renewal soon, we will call you approximately 90 days before your mortgage maturity date.Â Or, if you're ready to renew now, call us at 1-877-594-0082 or make an appointment online to speak with an in-branch mortgage representative at a BMO Branch location.
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