Purchase mortgage
Coordinate financing conditions, down payment evidence, appraisal requirements and closing dates. A pre-approval is useful preparation, but the property still needs to satisfy the lender.
Hawk Mortgage knowledge
Choose a mortgage for the decision in front of you
Buying, renewing and refinancing solve different problems. Start with the outcome you need, then compare lender policies and product structure around that goal.
Renewal or lender switch
Review options before the maturity date instead of automatically signing the renewal offer. A switch may improve pricing or features, while legal, appraisal or discharge costs should be considered.
Refinance
A refinance can consolidate debt, fund renovations or access equity, but it resets the economics of the loan. Compare the new payment, total interest, fees and the cost of breaking the current term.
Complex income or property
Self-employed income, rental properties and non-standard credit files may require different documents and lender policies. Clear packaging and realistic expectations matter as much as product choice.
Questions people ask
Can I switch lenders when my mortgage renews?
Often, yes. Qualification and property review may apply, and discharge, legal or appraisal costs should be compared with the potential benefit.
What is the difference between renewal and refinance?
A renewal continues the existing mortgage for a new term. A refinance changes core borrowing terms, often including the balance or amortization, and may involve additional costs.
Can self-employed Canadians qualify for a mortgage?
Yes, but documentation and income calculation vary. Tax assessments, financial statements, business records and lender-specific programs may be relevant.