Mortgages

Renewing your ATB mortgage

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Know your renewal options

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Mortgage term

Your term is the length of time your agreement is in place. You have the option to renew with the same term or a different one. Terms range from 6 months to 7 years, with the most common being 5 years.

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Mortgage rate

At the time of renewal, you can switch from a fixed to a variable mortgage or vice versa. All variable mortgages have the option to lock into a fixed rate at any time during the mortgage term.

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Mortgage loan

We offer two different mortgages: Rate First Mortgage and Residential Mortgage. The right type for you depends on your needs for flexibility with lump sum payment(s) and increasing your payment amounts.

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Refinance or access equity

If you have a major expense ahead, like home renovations, sending a child to university, or consolidating debt, accessing the equity in your home and refinancing your mortgage could be a smart move.

Are you looking to move your mortgage to ATB? Learn how.

Our dedicated team of mortgage experts make the process simple and easy to switch from your current mortgage lender.

How to renew your ATB mortgage

1: Educate yourself and ask questions

Mortgage renewal is a crucial part of your overall finances. It’s important to research and understand your options before proceeding. Find useful information at our advice centre.

Visit advice centre

2: Review your ATB renewal options

Before the end of your current mortgage term, you’ll receive renewal information from ATB. Review it to understand your options, & reach out to your assigned advisor for guidance.

3: Select your renewal details

Pick the term and mortgage loan that works best for you. Consider options like lump-sum payments and early repayment. Use our mortgage calculator to estimate your new payment.

4: Complete your ATB renewal

You can complete your renewal as early as 120 days in advance. Once you are ready to proceed, get in touch with our dedicated team of Mortgage Renewal Advisors.

Our promise to renewing ATB mortgage clients

ATB offers preferred rates to all renewing mortgage clients. This means that you can secure a rate lower than our posted rates when you renew your existing ATB mortgage with us—customized to fit the mortgage solution that's right for you.

Mortgage payment calculator

Our mortgage payment calculator can give you a sense of how different renewal choices will change your payments. Be advised the calculator, like our posted rates, does not reflect preferred rates as a current mortgage client. It’s best used for general planning.

Ready to renew your mortgage with ATB?

Our team of dedicated mortgage renewal advisors can help answer your questions and handle the complete renewal process for you.

Frequently asked questions when renewing your mortgage

You can renew your current mortgage with ATB as early as 120 days before your renewal date. ATB Mortgage clients will hear from our Mortgage Renewal Team during this time frame.

If you are thinking about making any changes to your mortgage such as selling your existing home or accessing equity by refinancing, or if you’re considering switching to a different lender, it’s best to connect with us as soon as possible.

If you have questions, want to connect, or have not heard from us, connect with the Mortgage Renewal Team.

You should be ready to make your renewal decision 30-60 days before which gives you plenty of time to select the right renewal scenario for your financial situation and connect with ATB to provide renewal instructions.

Your renewal is part of your overall financial picture and gives you the opportunity to evaluate your current financial situation. You’ll have the opportunity to review payment amount, payment frequency and mortgage products to ensure your renewal meets your current needs.

If you are really eager, you can renew your closed ATB mortgage within 120 days of maturity with no prepayment penalty. With an open mortgage, you can renew early at any time without penalty.

If you are thinking about making any changes to your mortgage such as accessing equity, selling your home or adding a HELOC (Home Equity Line of Credit), it’s best to connect with us as soon as possible to begin the application process. Connect with the Mortgage Renewal Team.

The rate at the time of renewal depends on the term and renewal product you choose. Your Mortgage Renewal Advisor can review your current situation including future plans for your home and budget to help you determine what the right term and rate is for you. You can also learn about how interest rates are calculated.

The rate at the time of renewal depends on the term and renewal product you choose. Your Mortgage Renewal Advisor can review your current situation including future plans for your home and budget to help you determine what the right term and rate is for you. You can also learn about how interest rates are calculated.

No, you don’t have to wait to renew on your renewal date in the event interest rates drop. If you’ve already committed to your renewal, and the interest rate for the term you choose is lower on the day your new term begins, we’ll automatically apply our lowest rate for that term on your renewal date. That's our rate promise to returning mortgage clients.

Renewing your mortgage happens when your current mortgage agreement (also called “term”) ends, you enter into a new agreement with the same lender to keep your existing mortgage.

Refinancing your mortgage means replacing your existing mortgage with a new one, with more funds and possibly different terms. A full credit application is also required, which can take time and add costs. While you can refinance anytime you should consider there may be extra costs like prepayment penalties, closing fees, appraisal charges, application fees, and legal expenses.

Learn more about renewing or refinancing.

Need help?

Our Client Care team will be happy to assist.