Skip to main content

Mortgage Renewal Tips and Advice

Understand the Mortgage Renewal Process

Find out what to expect as you approach your maturity date and explore your renewal options.

Benefits of Renewing Your RBC Royal Bank Mortgage

  • Expert Advice : Renewal time is an opportunity to review your current financial situation - and our goal is to make sure you select the right mortgage options for your particular circumstances. We'll contact you starting at 180 days before your renewal date to help you arrange your mortgage renewal. You can also call us first or visit your branch whenever you're ready.
  • Online Renewal Options : With the RBC Mortgage Renewal Tool, you can renew online in minutes. In the tool, you can review different options, hold today’s best RBC rate for you for up to 5 days, and even sign your renewal document online. Simply sign into RBC Online Banking to get started. If this option is available, you will see a link to it on your Account Summary page.
  • 180-Day Early Renewal Option : Take advantage of our 180-day early renewal option, which allows you to renew early without any penalties1. If you’re concerned about rates rising , this is a great option for you.
  • 30-Day Renewal Rate Guarantee : When you renew your mortgage at maturity, you are protected from an increase in interest rates for the interest type and term you selected in the 30-day period prior to your regularly scheduled renewal date.
  • Convenience : Unless you renew early, about three weeks before the end of your current term, you'll receive a renewal form in the mail detailing your payment options and your 30-day rate guarantee.
  • No Re-qualification Required : If you are renewing an RBC Royal Bank mortgage, you don't have to re-qualify at renewal time.

How it Works

Renewing your RBC Royal Bank mortgage is simple! Here's how it works and a quick summary of some things you can do to make it even easier:

If you're close to renewal, now is a great time to review your financial goals and your plans for the future. You might want to consider the following types of questions:

  • Will your new mortgage rate be higher than your current mortgage? If so, how will this affect your payments?
  • Has your financial situation changed since your last renewal?
  • Are you planning any home renovations, or will you need additional funds?
  • If you are planning to move, how will that affect the renewal terms you choose?
  • Do you prefer fixed or variable rates, or are you unsure?

Try the following tool for help choosing the right options:

Have questions?

We'll start contacting you around 180 days out from your renewal date to discuss your current mortgage needs. You can renew early at this point (or any time up to your renewal date), or you can wait and consider your options .

If you renew early, you'll be able to lock in at current interest rates sooner, which can protect you against further rate fluctuations.

Starting at 180 days before your renewal date, we will contact you either through email, phone, or mail with more information about renewing your mortgage.

If you have questions, you can give us a call us at 1-800-769-2511 or book an appointmentbook an appointment at a branch.

Otherwise, all you need to do is review your renewal documents, select your renewal option, and sign and return the documents to us before your renewal date. You may also be able to renew your mortgage online using the RBC Mortgage Renewal Tool in RBC Online Banking. If this option is available, you will see a link to it on your Account Summary page .

When you renew your RBC Royal Bank mortgage at maturity, you are protected from an increase in interest rates, for the interest type and term you selected, in the 30-day period prior to your regularly scheduled renewal date.

Renewal Rate Information

When you renew your mortgage, we will help you get today’s best RBC rate for you. Your rate at renewal time will be determined by a variety of factors, such as the mortgage rates at time of renewal, as well as the term – both term length and interest type (fixed or variable).

You may visit our Mortgage Rates page to review the current interest rate offerings, however to discuss what your personalized rate will be we encourage you to:

View Our Mortgage Rates

Responsive Table Example
3 Year Fixed Closed 5 Year Fixed Closed
4.890% 4.890%
4.930% APR 4.920% APR
View All Rates

Take the Next Step Towards Renewing Your Mortgage

Whether you’re renewing for the first time, or have renewed before, we’re here to help you choose the right options for your needs and goals.

Book an Appointment Book an Appointment

Renew in RBC Online Banking
Call 1-800-769-2511

mother and kids dancing

Personal lending products and residential mortgages are offered by Royal Bank of Canada and are subject to its standard lending criteria. Some conditions apply.
Some restrictions apply.