My Mortgage Renewal Is Coming Up in 2026: What I Need To Do Now!
November 28, 2025 | Posted by: Keith Leighton
My Mortgage Renewal Is Coming Up in 2026:
What I Need To Do Now!
If your mortgage renewal is coming up in 2026, the best time to prepare is right now. Many homeowners are dealing with higher rates, rising insurance costs, and tighter budgets. Preparing early and taking a strategic approach can make a meaningful difference in your monthly payment and your long-term financial comfort.
Here is a practical guide to help you get ahead of your 2026 renewal.
1. Start Reviewing Your Options at Least 6 to 12 Months Early
Most lenders send renewal notices about 120 days before your term ends. However, waiting for that letter can limit your flexibility. Appraisals, document reviews, and underwriting can take more time than expected.
Starting early allows you to:
• Compare rates from several lenders
• Avoid last minute renewals at higher rates
• Prepare documents if your income or employment has changed
An Ideal Mortgage broker can help you begin the process early so you have more options available.
2. Do Not Sign the First Renewal Offer
Many renewal letters look straightforward, but the rates offered are often higher than what new clients receive. You are not required to accept the first offer.
Working with a broker, such as those at Ideal Mortgage, can help you secure more competitive terms that are not always included in standard renewal notices.
3. Consider Whether a One to Three Year Term Fits Your Plans
With potential rate changes ahead in 2026, many homeowners are choosing shorter terms.
A short term may make sense if:
• You expect rates to decrease
• You might sell or refinance
• You anticipate changes in income or lifestyle
A broker can help you compare short- and long-term options so you can choose the one that best supports your goals.
4. Check Your Credit Before Renewal Season Arrives
Before your lender looks at your file, review your credit yourself.
Look for:
• Old collections you can settle
• Credit cards close to their limit
• Errors or outdated information
Improving your score, even slightly, can make a noticeable difference. Brokers at Ideal Mortgage can give you guidance if you are not sure where to start.
5. Consider Refinancing if You Have High Interest Debt
Many households are managing high interest balances on credit cards, lines of credit, or vehicle loans.
Refinancing at renewal may help you:
• Combine multiple payments
• Reduce your monthly obligations
• Improve cash flow
A broker can show you whether consolidating debt through your mortgage is the right move for your situation.
6. Review Your Property Insurance and Home Operating Costs
Lenders look at your overall affordability, which includes:
• Insurance premiums
• Heating and utility costs
• Recent changes to the home that affect expenses
Having updated information ready can help you avoid delays.
7. Work With a Broker Who Understands Your Full Financial Picture
Your lender’s renewal letter offers one option. A broker can compare several lenders, explain the differences, and help you choose the option that fits your goals.
Ideal Mortgage brokers consider your full financial situation, not just your existing mortgage, so you can renew with confidence.
Final Thoughts
A 2026 mortgage renewal does not have to be stressful. By starting early, checking your credit, and exploring multiple options, you can secure a rate and term that support your financial plans.
At Ideal Mortgage, our mortgage professionals are ready to help you review your options, strengthen your application, and make confident decisions well before renewal time.
