Ontario mortgage renewals & lender switches

A heavy mortgage payment isn't a verdict. It's a starting point.

Whether your renewal is coming up, or you're on a private or B-lender mortgage, we help you see what a more suitable lender could mean for your monthly payment. Plainly, kindly, and with the math shown.

Estimate my payment Start a renewal review

Homeowners reviewing their mortgage paperwork together at the kitchen table

How we work

No judgment about how you got here. Just honest options and what each one really costs.

Licensed: Agent #M24002741 Brokerage #12360 Math shown, no pressure Prefer to talk? (647) 775-0823

Buying your first home instead? Start with the first-home guide. Need short-term equity funding? Read our private lending guide. Exploring home equity in retirement? Understand reverse mortgages.

Market benchmark · manual snapshot

Compare DLC's rates with its bank benchmarks.

Dominion Lending Centres' published rates beside the “Bank Rates” shown on its website. These are third-party benchmarks, not Empower Approved offers, and not a personalized renewal or refinance quote.

Checked by hand: October 6, 2026

DLC does not state a rate publication date; this date records our source check. Not updated automatically.

DLC variable rate3.70%

DLC prime rate4.45%

DLC does not specify a term for the displayed variable rate. Prime is a reference rate, not a mortgage offer.

Start a renewal review See rates page

Published mortgage rates: DLC versus its bank benchmarks, checked October 6, 2026
Fixed term	Bank ratesas listed by DLC	DLC benchmark	Gap
6-monthFixed	7.89%	4.59%	3.30 pts lower
1-yearFixed	6.15%	4.59%	1.56 pts lower
2-yearFixed	5.44%	4.39%	1.05 pts lower
3-yearFixed	4.62%	4.34%	0.28 pts lower
4-yearFixed	6.01%	4.39%	1.62 pts lower
5-yearFixed	4.56%	4.39%	0.17 pts lower
7-yearFixed	6.41%	4.59%	1.82 pts lower
10-yearFixed	6.81%	4.59%	2.22 pts lower

Gap = DLC's listed bank rate minus its published mortgage rate, in percentage points. DLC does not identify the banks or calculation method behind its “Bank Rates” column; this is not an independently verified big-bank average. Rates may be high-ratio and/or quick-close, vary by province and change without notice. Approval, eligibility, prepayment, portability and penalties vary. Advertised rates are not guaranteed. No dollar savings are implied.

Dominion Lending Centres — Rates & Lenders

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Savings calculator

See the numbers before you talk to anyone.

Pre-filled with a $1,000,000 balance at 7% moving to 5%. Change anything. No email, no phone number, no catch.

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Illustrative comparison

What could your payment look like?

Mortgage balance$Your current balance. Assumes no new borrowing.

TodayRate%

Remaining amortizationyrs

ProposedRate%

Proposed amortizationyrs

Term to compareyrsSwitching costs$Legal, appraisal, lender, penalty

Today

$7,004/mo

Proposed

$5,816/mo

Estimated monthly payment relief

$1,188

$14,257 per year lower

Interest over 36-month term: $202,148 vs $143,852
Principal repaid in term: $50,002 vs $65,526
Interest saved, after costs: $53,296
Costs recovered in: 5 months

Payment relief and interest savings are different. Both are illustrative estimates only.

Talk it through with a broker

Optional. You don't need to share contact details to use this calculator. Results are estimates using Canadian semi-annual compounding, are not rate offers, and approval is not guaranteed.

Where are you today?

Four common paths. One honest conversation.

Renewals

Your term ends in the next 4 to 6 months. Your payment is about to rise and you want to understand why.

Private to B lender

You are on a private first or second mortgage, often a 1 to 2 year term. Your payments are interest-only and the balance is not shrinking.

B to A lender

You have been with a B lender for one term or more. Your credit score has recovered and payments have been on time.

HELOC & debt consolidation

You carry balances on cards, lines of credit or car loans. You have equity in your home and steady income.

Worked examples

Two $1,000,000 illustrations, with every assumption showing.

These are hypothetical, not client histories or rate offers. They show how much payments can move when a homeowner qualifies for a more suitable lender, and why payment relief and interest savings aren't the same thing.

Illustration A · hypotheticalNot a real client

From a private mortgage to a B lender

Estimated monthly payment relief

$1,935

$8,333 → $6,398 /mo

Balance: $1,000,000, no new borrowing
Today: 10% interest-only
Proposed: 6% amortizing, 25 yrs
Term compared: 1 year
Assumed costs: $15,000
Interest saved after costs: $26,220

Part of this relief comes from moving off interest-only payments with a lower rate; the new payment also repays principal. Rates are hypothetical, not current offers. Excludes taxes, insurance, prepayment privileges and any penalty not included in costs. Approval is not guaranteed.

Illustration B · hypotheticalNot a real client

From a B lender to an A lender

Estimated monthly payment relief

$1,188

$7,004 → $5,816 /mo

Balance: $1,000,000, no new borrowing
Today: 7% amortizing, 25 yrs
Proposed: 5% amortizing, 25 yrs
Term compared: 3 years
Assumed costs: $5,000
Interest saved after costs: $53,296

Same amortization on both sides, so the difference reflects the rate. Rates are hypothetical, not current offers. Excludes taxes, insurance, prepayment privileges and any penalty not included in costs. Approval is not guaranteed.

We're collecting client stories the honest way.

You won't find invented quotes or star ratings here. We only publish feedback that a client has written themselves and given us written permission to share, in their own words. Until then, this space stays open.

If we've helped you through a renewal or a lender switch, we'd be grateful to hear how it went.

Share your experience Published only with your approval

Renewal & savings insights

Reading for the weeks before renewal.

Dated editorial articles from our team. For official guidance, we link to the Financial Consumer Agency of Canada.

All articles

Editorial · residentialNov 2, 2026

Mortgage Pre-Approval Explained: What It Means and What It Doesn't

Think a pre-approval guarantees your mortgage? Think again. Learn exactly what a Canadian mortgage pre-approval covers — and where its limits are.

Read

Editorial · commercialOct 29, 2026

Mid-Rise Multi-Family Financing in Ontario: What You Need to Know

Thinking about financing a mid-rise multi-family property in Ontario? Learn how lenders evaluate deals, what products are available, and how to qualify.

Read

Editorial · residentialOct 26, 2026

Mortgage Pre-Approval Explained: What It Means and What It Doesn't

Think a mortgage pre-approval guarantees your financing? Think again. Learn exactly what a pre-approval does and doesn't mean before you start house hunting in Ontario.

Read

Editorial · commercialOct 22, 2026

Refinancing a Commercial Mortgage at Maturity in Ontario

Learn how to refinance your commercial mortgage at maturity in Ontario. Avoid costly mistakes, explore your options, and secure better terms with expert guidance.

Read

Independent guidance

Explore the DLC lender network

A selection of lenders listed by Dominion Lending Centres. We help you explore suitable options based on your property, finances and lender eligibility.

B2B Bank

Bridgewater Bank

CMLS

Equitable Bank

First National

Fisgard

HomeEquity Bank

Home Trust

Lendwise

ICICI Bank

Manulife

Marathon Mortgage

MCAP

Merix Financial

RFA

RMG Mortgages

Scotiabank

WealthONE Bank

Source: Dominion Lending Centres — Rates & Lenders. Checked October 6, 2026. Logos belong to their respective owners. Listing does not guarantee availability, approval or endorsement.

Where we help

Based in Brampton, working across Ontario.

Also available

Commercial, broker and compliance services.

Commercial mortgages Underwriting for brokers Compliance services