Question 1

Should I accept my bank’s mortgage renewal offer in Alberta?

Accepted Answer

Not before it is compared. The posted or letter rate is often higher than what the same lender — or a monoline — will do on a shopped file. Artisan puts the letter next to current panel pricing before you sign.

Question 2

When should I start a mortgage renewal in Edmonton?

Accepted Answer

Start inside the last 120 days of the term, or earlier if you want time to clean up credit or documents. Do not wait for the 21-day statutory notice if you can avoid it.

Question 3

Is a switch the same as a refinance?

Accepted Answer

No. A switch moves the same balance to a new lender. A refinance changes the amount or the amortization and is a new underwrite. Mixing the two is how people get surprised by appraisals and penalties.