What Starts Your Mortgage Renewal?
A Bank Letter or a call From Shawna?
For Shawna MacDonald's clients, the conversation often starts with a call from Shawna.
With 25 years of experience as a mortgage broker in Saskatoon, Saskatchewan, Shawna proactively reviews her clients' mortgages and reaches out when she sees an opportunity worth discussing — often before the renewal notice arrives.
It Usually Starts With a Question About Rate
“What rate can I get?”
Rate matters. But after 25 years as a mortgage broker, Shawna knows that choosing the right mortgage is much more complex than finding the lowest advertised rate.
The right mortgage means looking at the complete picture — fixed versus variable, bank versus mortgage-focused lender, term, prepayment privileges and penalties, portability, refinancing flexibility and the features that matter to your individual situation.
Two mortgages can have similar rates today and very different costs tomorrow.
FIXED OR VARIABLE
Choosing the right balance of rate, certainty and flexibility.
THE RIGHT LENDER
Comparing banks and mortgage-focused lenders.
PRODUCT & FLEXIBILITY
Looking beyond rate to terms and features that fit your situation.
PENALTIES & COSTS
Understanding the mortgage costs if your plans change.
Prepayment Penalties Matter
Breaking a mortgage early can come with a significant prepayment penalty. Depending on the mortgage and lender, that could be three months' interest, an Interest Rate Differential (IRD), or another calculation outlined in your mortgage agreement.
And penalties can vary significantly from one lender and mortgage product to another.
Sometimes Shawna identifies an opportunity where a lower rate could potentially save a client money — but after running the numbers, the prepayment penalty makes the change too expensive to justify. The lower rate may look attractive, but the math simply doesn't work.
The Numbers Tell the Story
Shawna looks beyond the rate. She considers the prepayment penalty, remaining term, available mortgage options, cost of making a change and potential interest savings to determine whether changing your mortgage actually leaves you better off. She can calculate approximately how long it may take for the potential savings from a new mortgage strategy to recover the cost of making the change.
It also reinforces why choosing the right mortgage product in the first place matters.
Rate is important, but so are the penalty calculation, prepayment privileges, portability and flexibility you may need if your circumstances change. The right mortgage isn't necessarily the one with the lowest rate. It's the one that fits you.
If the numbers don't make sense, that's important information too.
Shawna Ran the Numbers.
When Shawna sees an opportunity, she doesn't simply compare rates. She runs the numbers.
Shawna actively reviews her clients’ mortgages and watches for opportunities that could save them money. When she sees one, she calls the client — often before their lender or renewal notice does.
She can review the existing mortgage, communicate with the lender on her client's behalf, determine the applicable prepayment penalty and compare the costs against available alternatives.
She can then calculate the potential interest savings and break-even point to answer the question that really matters:
Does making a change actually leave you better off?
Sometimes the analysis identifies significant potential savings. Other times, the numbers show that staying exactly where you are is the better decision.
The goal isn't to make a change. The goal is to make the right decision for you.
What Shawna’s Clients Say
Hundreds of 5-star reviews and recommendations from clients Shawna has helped with purchases, renewals and refinancing.
★★★★★ Google Review
“We recently worked with Shawna and Dan on a renewal and refinance. Communication was excellent throughout the process, which was clearly explained and smooth. I highly recommend Shawna and would happily work with her and her team again.”
— Shannon B.
Google Review
Recommended on Reddit
“Shawna has helped me with many a renewal. She’s great :)”
— Saskatoon Reddit user
Independent recommendation on Reddit