nesto acquires CMLS Group

Renewal Ahead? Calculate how much you could save by switching

Don’t hit auto-renew with your bank. Soften your payment shock with rates 15% lower*.

Mortgage Payment Shock

For visualization purposes. Speak with a mortgage expert for complete accuracy. Terms & conditions apply.

As seen in

Your renewal time has come. Calculate the savings yourself.

If you’re like the 60% of Canadian homeowners coming up for renewal, chances are you will 
be faced with “payment shock”. On average, Canadian homeowners are seeing a 
30% increase in their mortgage payments after renewing at a much a higher rate*.
 But that doesn’t mean you have to.


increase in mortgage
payments the average
Canadian faces at renewal.


of Canadians don’t consider switching from their banks.


average interest savings in your first term if you switch to nesto.

*Stat is from CMHC. Comparing nesto’s March 5-year fixed rate vs the big 6 bank posted rates approximately rounded up. Rate is for insured mortgages from $700k to less than $925k. Terms & conditions apply. Comparison lenders may offer unpublished special discounts. For visualization purposes only.

The Great Renewal

Remember the start of the COVID-19 pandemic when everyone seemed to be buying a home? From 2019 to 2021, record-low interest rates and a shortage of home supply caused many Canadians to jump into the housing market. Now?

60% of Canadian households will be up for renewal by 2026. As a result, a great wave of renewals is coming up — and with it, a great wave of payment shocks due to higher mortgage rates

Switching Mortgage Lenders At Renewal Time Has Never Been This Simple

Get a lower rate than your bank

Skip the negotiation game & get the lowest rate from the start, so you can lower your monthly payment as much as possible.

Expert advice

We have 310+ experienced experts across Canada, you can trust. They are commission-free so they have no incentive to offer anything but great advice.

Personalized mortgages

We’ll find you the mortgage that best fits your upgraded life —whether you want to update your prepayment or payment amounts.

A fast process

Our streamlined process leveraging technology is fast, think days not weeks.

Low Renewal
Rates in Canada

The top big bank rates all in one easy-to-view table. See their rates, then beat their rates. We beat the competition without compromising on expertise.

How to Switch Your Mortgage At Renewal

The best time to start looking is 4 months before your current term ends. Why then? 
Most lenders will let you renew 90 to 120 days early, without making you pay any prepayment penalties.

6 Months

4 Months

1-2 Months

Renewal Date

Plan Ahead
Your existing mortgage lender will likely send you a renewal offer about 6 months before your renewal date. Why 6 months? There’s no competition yet for them. Don’t sign it yet.

The renewal offer will outline what your lender is offering you as a new interest rate & terms. On your end, make sure you understand the conditions of your current loan & your overall financial situation.

Shop Around
120 days before your renewal date is when the most savvy mortgage borrowers start shopping around. Lock in the best rate you can find, but don’t actually close on it yet, unless you have to. Seek expert advice from mortgage professionals who can help guide you through the process. They can find both the best rate but also best mortgage product for you. Historically a 5-year term has been most popular, but choosing one to three years could provide more flexibility as the market changes.

30-45 days from your renewal date is a great time to have your mortgage signed. The rates may have come down from when you locked in your rate, so you can take advantage of the lower rate. Switching lenders can take up to 30 days or more, making it important to leave enough time. If you decide to renew with a new lender, you must go through the application process again, similar to when you applied for your initial mortgage.

Move Fast
Out of time? No need to look further. nesto is your one-stop shop for the speediest renewal process and the lowest rates out there.

Expert Strategies from our Expert

We understand that every mortgage is unique. Here’s some tips from
our Principal Mortgage Broker Chase Belair:

Talk to a mortgage expert now

Happy nesto Renewal customers

Just a few of our clients who have saved big on their mortgage renewal.

An average of 4.5 out of 1,060 reviews

jennifer review

*Terms and conditions:

*Learn more about nesto’s cashback offer here. Not available for assumptions or porting. Assumes a $430,000 mortgage amount. Cashback rates are specific to a 5 years term with 120 day rate hold.
**Offers cannot be combined. Savings calculation assumes a $450K mortgage amount, 25 year amortization, 5-year fixed cashback rate.
***Data points are from Bloomberg & CMHC
**** 48 hours approval:median conditional approval time at nesto is less than 24 hrs
****Reviews are based on real nesto reviews, names have been changed.
nesto Inc. Licenses: Mortgage Brokerage Ontario #13044, Saskatchewan #316917, New Brunswick #180045101, Nova Scotia #202507230; Mortgage Brokerage Firm Quebec #605058; British Columbia, Alberta, Newfoundland/Labrador, PEI, Yukon, Nunavut, Northwest Territories. Note that ‘advisors’ are licensed professionals and equivalent to the following titles per province: Submortgage Broker/Mortgage Broker in British Columbia, Mortgage Associate/Mortgage Broker in Alberta, Associate/Mortgage Broker in Saskatchewan, Salesperson/Authorized Official in Manitoba, Mortgage Agent/Mortgage Broker in Ontario, Mortgage Broker in Quebec, Mortgage Associate/Mortgage Broker in New Brunswick, Associate Mortgage Broker/Mortgage Broker in Nova Scotia, or Mortgage Broker in Newfoundland & Labrador.