Mortgage Moves to Make Before Year-End
November 7, 2025 | Posted by: Keith Leighton
Mortgage Moves to Make Before Year-End
The end of 2025 is a great time to take a fresh look at your finances, set goals for 2026, and make smart adjustments that can strengthen your financial position. Your mortgage is one of the most effective tools for building long-term stability. A few simple steps now can help you save money, pay off your home faster, and enter the new year with confidence.
Here are several mortgage moves worth considering before December 31:
1. Review Your Mortgage Terms and Renewal Date
Even if your renewal is still months away, it’s worth checking your current rate and terms. With interest rates showing signs of settling after a period of volatility, locking in the right product early can provide peace of mind. A mortgage broker can help you explore pre-renewal options or rate holds to protect against future changes.
2. Make a Lump-Sum Payment if You Can
If your mortgage allows prepayments without penalty, a year-end lump-sum payment can shorten your amortization and save thousands in interest. A small extra payment, such as $1,000, can have a meaningful impact over time. Holiday bonuses or tax refunds can be put to good use here.
3. Increase Your Regular Payment Amount
If a lump-sum payment is not possible, consider raising your regular payment instead. Many lenders allow annual increases of 10% to 20% without penalty. A modest bump of $25 or $50 per payment helps reduce the principal faster while adjusting gradually to a higher payment level.
4. Check In on Your Home’s Equity
Home values across many parts of Canada have held steady, and this may have increased your equity. Refinancing or setting up a Home Equity Line of Credit (HELOC) before year-end can give you flexibility for upcoming projects such as renovations, debt consolidation, or investment plans.
5. Review Your Credit and Financial Picture
Mortgage planning works best when it aligns with your overall financial health. Pull your credit report before the new year, pay down revolving debt, and avoid taking on new credit if a renewal or refinance is coming soon. A stronger credit profile can lead to better rates and product choices.
6. Book a Quick Year-End Mortgage Review
Life changes quickly, and your mortgage strategy should change with it. A short conversation with your mortgage broker can reveal new opportunities to save money, adjust your terms, or prepare for future goals.
Start 2026 with Confidence
Taking time to review your mortgage before year-end is a simple way to begin the new year on solid ground.
For personalized advice or a free mortgage checkup contact your Ideal Mortgage expert today. Let’s make sure your mortgage is helping you reach your financial goals in 2026.
