TMG The Mortgage Group (Ontario) Inc.
Toronto Mortgage Renewal & Rates
Toronto & GTA mortgage renewals
Mortgage coming up for renewal? Let’s make sure you’re getting a good deal.
Before you sign your bank’s offer, let’s see how it compares. I’ll walk you through the numbers and help you decide whether to stay or switch.
No pressure. No obligation. Just straight answers.
You’ll deal directly with me, Cory Parsons.Mortgage Agent Level 2 · CMP Rising Star 2026
Meet Cory
Hi, I’m Cory.
I’m a Toronto mortgage agent with TMG The Mortgage Group. Most people come to me with a renewal letter in hand and one question: is this a good rate?
I’ll give you a straight answer, show you the numbers and explain the trade-offs in plain language. You deal with me from start to finish.
- Mortgage Agent Level 2 with TMG The Mortgage Group
- One of CMP’s 60 Rising Stars of 2026, Canada’s top mortgage professionals aged 35 and under
- Access to 50+ lenders, including major banks
Rather talk it through? Let’s chat: 647-567-2679
Renew or switch
Stay with your lender, or switch?
That’s the main decision at renewal, whether you own a condo downtown or a house elsewhere in the GTA. Here’s how the two compare.
Renew with your lender
The simplest route. Sign the offer and your new term starts. Their first offer isn’t always their best, so it’s often worth negotiating.
Good fit if
- Their offer is competitive
- You’re happy with your mortgage’s features
Switch lenders
Move your balance to a new lender at renewal. There’s a bit more paperwork, which I handle with you. There’s usually no prepayment penalty at the end of your term, though some fees may apply.
Worth a look if
- Their offer isn’t competitive
- You want better features, like stronger prepayment options
$69less per month
What a small rate difference is worth: on a $500,000 mortgage with a 25-year amortization, a rate of 4.25% instead of 4.50% lowers your monthly payment from about $2,767 to $2,698. That’s roughly $4,100 less in payments over a five-year term.Example only, not a rate quote. Your numbers depend on your balance, amortization and the rates you qualify for.
Need to borrow more?
Accessing equity, consolidating debt or changing your amortization is a refinance, not a straight renewal. It usually means qualifying again. Mention it in the form and we’ll look at it together.
Already got your renewal offer? Let’s see how it compares.
Send me your lender, rate and term. I’ll tell you honestly whether it’s a good deal, worth negotiating, or worth switching.
Helpful to have handy
- Your renewal letter, or the rate and term offered
- Roughly how much is left on your mortgage
- Your renewal date
How it works
Three simple steps
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Tell me about your mortgage
When you’re renewing, and your lender’s offer if you have one.
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I’ll review your options
Your lender’s offer, other lenders worth considering, and any costs of switching.
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We’ll figure out what makes sense
I’ll walk you through the numbers. If staying with your lender is the better move, that’s perfectly fine too.
Client feedback
What clients say
Despite the crazy interest rates out there, Cory managed to secure a lower rate for us compared to what the banks were offering. Happy to recommend him to anyone I know.
Alicia · Client
“His responsiveness to messages and his ability to provide honest and clear answers to questions will leave you impressed and confident throughout the process.”
Erica · Client
“He’s able to explain complex mortgage details in a clear concise manner… we felt confident every step of the way.”
Harris · Client
See my reviews on Google →
Common questions
Questions I hear a lot
Don’t see yours? Ask it in the form or give me a call.
Want more background? Read my guide to mortgage renewals.
How early should I start looking?
About four to six months before your renewal date. Many lenders let you hold a rate ahead of time, which protects you if rates go up, and you won’t be deciding in a rush.
Should I just sign my bank’s offer?
Maybe. Sometimes it’s competitive, sometimes it isn’t. Send it to me and I’ll tell you how it compares.
Can I switch lenders when my mortgage renews?
Yes, subject to the new lender’s approval. I handle the application and coordinate the switch with you.
Do I have to qualify again if I switch?
The new lender will still review your income, credit and property. But since November 2024, many people switching at renewal, with no increase to their balance or amortization, no longer have to pass the stress test. I’ll confirm whether that applies to you.
Will it cost me anything to switch?
Possibly a little, such as a discharge fee from your current lender, and sometimes legal or appraisal fees. Some lenders cover these. I’ll lay out any costs up front.
What if my payment goes up?
There are options: a different term, fixed versus variable, or sometimes a longer amortization. That lowers the payment, but usually means more interest overall and may mean qualifying again. I’ll show you what each option means for your monthly budget.
Let’s take a look at your mortgage.
Send a few details or give me a call. No need to figure it out on your own.
Cory Parsons, Mortgage Agent Level 2 · TMG The Mortgage Group (Ontario) Inc. · FSRA Licence #10315 · 121 Harbord Street, Toronto, ON M5S 1G9 · cparsons@mortgagegroup.com · 647-567-2679
General information only, not financial advice. All mortgages are subject to lender approval. Rates, terms, fees and eligibility depend on the lender and your circumstances. Stress-test relief at renewal applies only to eligible switches where the balance and amortization are not increased. Savings example: $500,000 balance, 25-year amortization, monthly payments, semi-annual compounding, 4.50% vs. 4.25% (payments of $2,767.36 vs. $2,698.30 per month). Privacy policy