T
Trevor M.
★★★★★
RBC offered me 5.49% at renewal. I sent Lighthouse the letter on a Monday. Locked at 3.42% by Wednesday. That's $440 a month in my pocket for the next five years.
Send us your renewal letter today. We match you with the lowest rate in Canada by Friday. 120-day hold with float-down protection.
Read this part carefully.
Banks count on most homeowners signing the first rate they're offered. Right now, the gap between a bank's posted renewal rate and the lowest rate available in Canada is often 1–2 points. On a $500,000 mortgage, that's $400–$800 every month. For five years.
You've already done the reading. We shop the best rate.
Honest illustration based on current Canadian rates. Your real number depends on your lender, mortgage size, and remaining term.
*Assumes a Lighthouse-sourced rate of 3.40% vs. your bank's offered renewal rate. Your final rate depends on credit, mortgage size, and lender. Disclosed in writing 2 business days before signing. Illustration only, not a binding offer.
Send us the letter your bank mailed. We do the rest. Every day you wait at the bank's rate costs you money.
Forward the letter your bank mailed you. That's it. No credit check. No income docs.
A licensed mortgage broker compares every Canadian lender for the lowest rate you actually qualify for. Locked within 48 hours.
Your rate is held for 120 days. If rates drop before you sign, yours drops with them, automatically.
Same homeowner ($500K mortgage, 20 years left on amortization, 5-year fixed term) running each renewal option at today's rates.
| Feature | Lighthouse rate lock | Auto-renew with bank | Renegotiate with bank | Refinance with new bank |
|---|---|---|---|---|
| Gets the lowest available rate | ✓ | ✕ | ✕ | ✓ |
| Rate locked within 48 hours | ✓ | ✕ | ✕ | ✕ |
| 120-day hold with float-down | ✓ | ✕ | ✕ | ✕ |
| Works with any current lender | ✓ | ✓ | ✕ | ✓ |
| No prepayment penalty | ✓ | ✓ | ✓ | ✓ |
| Paperwork handled for you | ✓ | ✓ | ✕ | ✕ |
*Illustrative. Real terms vary by lender, credit, and amortization. All disclosures provided in writing 2 business days before signing per FSRA rules.
We compare every major Canadian lender. Most clients lock 0.5–1.5 points below their bank's posted renewal offer.
Send your renewal letter today, get a locked rate by end of week. We handle the broker paperwork while you wait.
Your rate is held for 120 days. If rates drop before you sign, yours drops automatically. Upside only.
RBC, TD, Scotia, BMO, CIBC, National Bank, credit unions. We can move your mortgage to whoever offers the lowest rate.
Every fee disclosed in writing 2 business days before signing. Switching lenders at renewal is usually free.
A regulated Ontario brokerage (Lic. #13301). All disclosures in writing per FSRA rules. Your protections are real.
4.9/5 · 192+ reviews
RBC offered me 5.49% at renewal. I sent Lighthouse the letter on a Monday. Locked at 3.42% by Wednesday. That's $440 a month in my pocket for the next five years.
Our bank renewal letter was a fixed 5.29%. Lighthouse locked us at 3.45% and held it for 120 days. Rates dropped 0.15% before we signed and ours dropped too. Wild.
A bit of bruised credit and the bank wouldn't budge on rate. Lighthouse found a lender who actually competed for the file. Better rate than I expected. Honest people.
Retired on a fixed pension. Bank quoted 6.19% renewal. Lighthouse got me a 3-year fixed at 3.65%. No income hoops, no stress test drama. Just numbers.
I was about to sign the bank's renewal because I didn't have time to shop. Lighthouse did the shopping for me in 48 hours. I should have called sooner.
Renewed early. My term still had 90 days left. They locked me at today's rate with float-down protection. Rates dropped another quarter point. I won twice.
Outcomes vary. Names abbreviated for privacy. Quotes paraphrased from Google reviews and case files. Your own quote, rate, and savings depend on your situation.
Lock the lowest available rate within 48 hours of sending your renewal letter.
Your rate is held for 120 days. If rates drop before you sign, yours drops automatically.
One licensed Ontario broker, start to finish. No call centres, no chatbots, no handoffs.
Canadian bond yields are volatile right now, and fixed mortgage rates move with them. The rate available today may not be available next month.
Lock in a rate within 48 hours and hold it for 120 days. If rates drop before you sign, your locked rate drops too. You can't lose by checking.
At the end of your mortgage term, typically every 1 to 5 years, your contract expires. Your current lender sends a renewal letter 3–4 months before your renewal date with their offered rate. You can sign it, negotiate with them, or move your mortgage to a new lender for a better rate. If you do nothing, most banks automatically renew you at their posted rate, which is rarely the best one available.
Most lenders allow you to renew up to 120 days before your renewal date with no prepayment penalty. That's the window where you can lock today's rate with float-down protection. If rates drop before you sign, yours drops too. If they rise, you keep your locked rate.
A rate hold lets you lock today's rate for up to 120 days while you finalize your new mortgage contract. Float-down means if interest rates drop before you sign, your rate drops with them, automatically. You get the best of both worlds: protection against rate hikes, plus upside if they fall.
Usually not. When your mortgage term ends, you're free to move to another lender without any prepayment penalty. The new lender typically covers your legal and appraisal costs (we negotiate this into the deal). Renegotiating with your current lender is free too, but they rarely lead with their best rate unless you have a competing offer in hand.
No. The initial quote is based on basic info from your renewal letter and a quick chat. No credit check required. We only run a soft credit pull once you ask us to move forward, and that has zero impact on your score.
A renewal means signing a new term on your existing mortgage balance, either at your current bank or a new lender. A refinance means breaking your mortgage to take out more equity or restructure the loan (usually with penalties if you're mid-term). At renewal time, there's no penalty either way. We help you decide which fits.
Not at all. We often use a better quote from a competing lender as leverage to get your current bank to match the rate. Many clients stay with their existing lender, at a lower rate they would never have been offered otherwise. Either way, you win.
Send us your renewal letter. It takes 60 seconds. A licensed Ontario broker compares every major Canadian lender and locks the lowest available rate within 48 hours. No credit check, no obligation, no pressure.