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Q: My mortgage is up for renewal. Should I just sign what my lender sends me?
Rarely. Your lender's renewal letter is an opening offer, and they're betting you're too busy to shop it. Renewal is the one time you can move your mortgage with no penalty, and since late 2024 a straight switch no longer means re-qualifying at the stress test. Start about 120 days out, get the offer in writing, and have a broker compare it against the market. A small rate gap adds up to thousands over a five-year term.
Answered October 2026
Q: I’m self-employed and write off a lot of expenses. Can I still qualify for a mortgage?
Often, yes. Writing off expenses lowers your taxable income, which is what banks qualify you on, but plenty of lenders look past that. Some add back depreciation and home-office costs. Others offer stated-income programs that use your business's actual cash flow, typically with 10–20% down. The key is matching your file to the right lender before you apply. Two years of returns and Notices of Assessment usually get the conversation started.
Answered October 2026
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