Do I need to pass the stress test when I switch lenders at renewal?

No, not on a straight switch. Since November 21, 2024, switching between federally regulated lenders does not require re-qualifying under the stress test, provided the loan amount and remaining amortization stay the same.

Signing your lender's renewal letter without comparing can mean paying more than you need to. Lenders sometimes offer better rates to new customers than to existing borrowers at renewal, so comparing matters.

Start reviewing your options 90 days before your term matures. On a renewal, that is how long a lender can hold a rate for you, so we can lock one in and keep watching the market up to your renewal date.

In many straight switches, the new lender covers the standard appraisal and legal transfer fees. We outline all costs upfront so you see your exact net savings.

Rules and figures current as of October 2026.