Reviewed by Micky Khaneka, licensed mortgage broker
When a Mississauga mortgage matures, the current lender sends terms. You can sign them, ask them to improve the offer, or move the balance.
MKG Mortgages compares the full term, including prepayment and the cost to switch, not the teaser rate alone.
Compare the balance, the remaining amortization, the term, and what happens if you sell or prepay. A lower payment from a longer amortization can raise the interest you pay over time. MKG writes both numbers down. The current lender can still be the one you keep.
Illustrated Erin Mills balance: $610,000, 18 years of amortization left. Offer from the current lender: 4.79% fixed for three years. A switch, illustratively, at 4.49% for five years, with $1,200 of costs. The three-year offer keeps flexibility if the owner expects to sell.
These are the kinds of mortgage renewals files we structure in Mississauga.
Illustrative example
The challenge. The letter was one offer, and they wanted to know if it was the one to keep.
How MKG structured it. We compared that offer with other lenders and they renewed or switched with the comparison in hand.
Illustrative example
The challenge. The cheapest-looking payment cut the lump-sum privilege they actually use.
How MKG structured it. We compared the full contract and kept the offer that matched how they pay the mortgage down.
Illustrative example
The challenge. A long fixed term would be awkward if the house sold.
How MKG structured it. We looked at a shorter term and a fair penalty so the next move stayed open.
The maturity letter is the start of the comparison.
Meadowvale, Erin Mills, and Churchill Meadows are mostly owner-occupied houses coming off five-year terms. Port Credit and the Square One area add condo renewals that depend on the building. Streetsville and Cooksville include older mortgages that are sometimes collateral charges.
Meadowvale, Erin Mills, and Churchill Meadows are mostly owner-occupied houses coming off five-year terms. Port Credit and the Square One area add condo renewals that depend on the building. Streetsville and Cooksville include older mortgages that are sometimes collateral charges.
The note below is paraphrased from a public Google review. It is one client's experience, not a promise that the next file ends the same way. A rate in a client's words is not an offer from MKG. The lender still decides.
A household at renewal wrote that the comparison was explained clearly and that the change of lender did not turn into a scramble.
Paraphrased from a public Google review of MKG Mortgages. Names and identifying details are left out.
Micky Khaneka is a licensed mortgage broker, FSRA M21002608, at FLOW Lending Group, Brokerage #12864. Canadian Mortgage Professional named him to the CMP Top 75 for 2026, at number 15 in Canada. The lender still decides. The lender still decides.
Micky Khaneka, licensed mortgage broker, M21002608, FLOW Lending Group, Brokerage #12864
The firm serves clients in English, Hindi, Punjabi and Bengali.
Elite Hall of Fame
CMP Top 75 Broker 2026
President's Platinum Club – Top 1%
Pinnacle Club – Top 0.5%
People ask how mortgage renewals works on a Mississauga property, and what documents come first. The short answers below stay on this page. The lender still decides, and the office is in North York. The lender still decides. Any example figure is illustrative.
Yes. A revised offer is still one lender. A second option is what tells you whether the revision was enough.
A straight switch usually keeps it. Changing the amortization often turns the file into a refinance, with different documents. We identify which one you are actually asking for.
The corporation's documents, if the new lender asks. A house in Meadowvale typically does not have a status certificate in the renewal file.
Asking us to compare does not cancel the renewal offer. Signing a new commitment elsewhere is the point of no return, and we do not do that until you choose.
Call now. There may still be time to switch. If there is not, we help you read the offer you have instead of pretending a move is realistic.
The other services in this list each have a Mississauga page. Open the one that matches the file, whether that is a purchase, a refinance, a renewal, a consolidation, self-employed income, or a private mortgage. The lender still decides. The lender still decides.
The Mississauga hub names the neighbourhoods, the housing that shows up, and a local example. It links back to these service pages. The office that handles the file is in North York, and the lender still decides. The lender still decides.
Mississauga area hubMortgage Renewals is written for each city MKG serves, not only Mississauga. The local page changes the neighbourhoods and the example. The rules of the product stay the same, and the lender still decides. The lender still decides. Any example figure is illustrative.
Send the agreement or the mortgage statement for the Mississauga property, or book a call. The first conversation is free. It is a review of this file, not an approval, and the office that handles it is in North York.
Sources. FCAC — mortgages · OSFI Guideline B-20 Published rules change. Read the current page, and confirm tax with your lawyer, before you rely on a figure.
Any rate or payment mentioned is illustrative and on approved credit (OAC). It is not a quote, a commitment, or a current offer.