Mortgage renewal vs switch to a new lender in Alberta.

Switches inside insured-mortgage rules don't trigger the stress test for the same balance — but switches with increases (refinance) do.

Alberta adds its own layer. Calgary and Edmonton run on different employment-cycle assumptions. Oil-sector commission and bonus income is heavily averaged. That matters here because underwriters are already scrutinizing the income side of a mortgage renewal vs switch to a new lender file — a property or program complication local to Alberta can push a marginal file over the edge.

No land transfer tax. Land Titles registration fee plus mortgage registration fee — a few hundred dollars typical.

Programs to check eligibility for in Alberta:

• FHSA
• Home Buyers' Plan (RRSP withdrawal)

• Current mortgage statement
• Renewal offer from existing lender
• Income and credit documents per standard application

Alberta nuance: Bonus and commission income require 2 years of T4s; many Alberta files are killed by overstating recent strong years.

• Variable income from energy-sector roles is averaged over 24 months minimum.
• Acreage and rural files trigger MLI restrictions over a hectare.
• Condo board documents are commonly thin — request the full reserve study.

Underwriter view of this scenario: The switch process is meaningfully easier than a refinance because the insurance status carries over. Brokers add the most value here.

• Start shopping 120 days before renewal
• Do not increase the balance unless you mean to trigger a refinance
• Compare prepayment privileges and penalty structures, not just rate

• Letting renewal lapse — the lender can move you to an open variable rate at much higher cost.