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How Our Mortgage Brokers Can Help

At AKAL Mortgages Inc., we believe that you should not just renew your mortgage loan—you should renegotiate it! Our mortgage brokers have connections to numerous lenders and can help you assess your options and determine which one will provide you with the best loan terms. We can help you compare factors such as:

  • Interest rates
  • Lender fees
  • Annual percentage rates (APRs)
  • Monthly payments
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4 things that you should evaluate to renew your mortgage

Mark your current mortgage term’s maturity date on the calendar, then count back 120 days (~ 4 months) and mark that too; this is the date majority of the lenders will let you begin the early mortgage renewal process, meaning you could renew early with your current lender without having to pay a prepayment penalty (for breaking your term early). If you’re not ready to sit down with your mortgage broker or lender on this day, you can at least start researching your options online. By identifying which lenders are offering what, in terms of mortgage rates, prepayment options and other terms and conditions, you will be better armed to mediate when you are all set to renew.

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  • Consider Your Financial Goals

    A lot can happen throughout your current mortgage term. Your financial goals at the beginning of your current mortgage term may no longer match up with your present goals. You could have received a substantial raise at work, lost some income or even retired.

  • Be Ready to Renew in the Last 30 Days

    By law, your current lender has to send you a mortgage renewal statement at least 21 days before your term is up, but they will usually mail you a renewal offer for their lowest posted rate that is good for the 30 days before maturity.

  • Make a Decision

    After shopping around, considering your financial goals, outlining your mortgage needs and receiving a mortgage renewal offer from your current lender, it’s finally time to make a decision.


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Why You Should Choose
AKAL Mortgages Inc.



  • When we say YES! We stand behind our promise
  • Mortgage solutions based on your needs and qualifications
  • Fast approvals and quick closings
  • Save time and money
  • Lower mortgage rates due to lender discounts and promotions
  • Licensed, knowledgeable and experienced
  • Protect your credit score


  • The Most Important: Dedication to our agents!
  • Bootcamp-3-days: Learn Lead Generation, Products and Underwriting
  • Training: Weekly training and industry updates, One on one support
  • Mentoring: Specialize in Residential, Business and Commercial
  • Lead Generation: Proven successful campaigns to generate leads
  • Personal website; mobile Apps; online virtual meetings, e-signatures
  • Lenders: VIP access to more lenders and top tier compensation
  • Professional office (at no cost to you): Meet your clients at the office

Frequently Asked Questions

    • How to outline your mortgage needs?

      Along with your other financial goals, you should make a list of what you’re looking for in a mortgage product. To start, ask yourself a few questions:

      • Does your monthly budget have room for you to increase your mortgage payment amount? (If so, review the monthly prepayment options in the terms and conditions.)
      • Do you think you will receive any bonuses or inheritances that you could put towards your mortgage? (If so, you’ll also want to look at the lump sum prepayment options.)
      • Do you think you will have the option to pay off your mortgage entirely, in this next term? (If that being the case, consider the prepayment penalties that go with fixed vs. variable rate mortgages.)
      • Do you think you will want to borrow more money from your lender during this next term? (If that is the case, you will again want to consider the prepayment penalties involved in a refinance, or look at collateral mortgages instead.)
      • Is there any chance you will be selling your home and/or moving in the next 5 years? (In that case you may need a mortgage that is portable or assumable.)
      • Can I negotiate during renewal?
    • Should I just accept the rate proposed by the Bank or can I negotiate?

      "You may as well hand your wallet over to the granter," says a buyer. If you identify that your current lender has the best mortgage features, advice and policies, ask your bank to match a competitor's lower rate.

      "If you don't come right out and ask for a better rate, you won't get one," says a real estate lawyer in Toronto. He also claims that banks might be more desirous of lowering your rates if you transfer over other accounts or investments, such as an RRSP. Don't just fixate on the interest rate. The amortization period, the rate type (fixed or variable) and the flexibility of the payment schedule can be crucial to lowering your costs.


We Serve Our Clients
Best Of Capacity

  • Jas Bath

    The experience with AKAL Mortgages Inc. is great!!! I recently got approved for a business loan thought them and the agent that helped me with the process was outstanding. I am impressed with the convenience and very helpful service. I hear their agents on the radio all the time making consumer aware of the options available about mortgages and loans. And, they way they do, touch my heart. So honest and ethical.

  • Oli Rubion

    My wife and I visited AKAL mortgages Inc. due to their reputation in the market. We were attended in a timely fashion to discuss our mortgage and line of credit needs. We are so glad that we were provided with great options and solutions to choose from. We are very happy and satisfied from the services provided by AKAL mortgages Inc. We definitely recommend their services to our family and friends.

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