# When should I start my 2026 renewal process?

> Start your renewal process 120-180 days before your current term expires to maximize your strategic options.

Category: Renewal
Last verified: 2026-03-12
Source: https://ratellow.com/faqs/renewal/when-should-i-start-my-2026-renewal-process

## Answer
- Most lenders offer rate holds 120 days before maturity (some extend to 180 days)
- Rate holds protect you from increases but allow you to benefit from decreases
- Early renewal gives you time to shop rates without pressure
- OSFI stress test applies only if switching lenders, not for same-lender renewals

**Contact your current lender first to understand their renewal offer and avoid stress test requirements. If considering a switch, ensure you can pass the qualifying rate (contract rate + 2% or 5.25% minimum, whichever is higher).**

## Institutional highlights
- **OSFI Guideline B-20** Mandates stress test for all new mortgages and lender switches, but exempts same-lender renewals
- **Rate Hold Mechanics** Lenders typically offer 120-day rate guarantees with ability to benefit from rate decreases during hold period
- **Qualifying Rate Formula** Stress test uses higher of contract rate + 2.0% or 5.25% minimum qualifying rate

## Related guide
- https://ratellow.com/guides/renewal-180-day-window

## Sources
- Mortgage Stress Test Rules — https://ratellow.com/guides/osfi-stress-test-explained
- Amortization — https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/residential-mortgage-underwriting-practices-procedures-guideline-2017
- Debt service coverage — https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/residential-mortgage-underwriting-practices-procedures-guideline-2017
- Debt service coverage — https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/residential-mortgage-underwriting-practices-procedures-guideline-2017