Homeowners often continue with their current lender when renewing their mortgage due to time constraints. It is important to assess current lender rates and terms during mortgage renewals, which can be done with the guidance of a professional. Life changes impacting finances, such as debt consolidation, home equity use, or property plans should be considered. Refinancing options should be explored for paying down the mortgage faster or leveraging home equity, with possibilities including changes in rates, equity use, increased mortgage amounts, or amortization adjustments. It is recommended to seek guidance from top lenders in Canada for renewal options and to avoid signing renewal forms without questioning to secure the best rate, as multiple lenders often compete for the best rate, benefiting homeowners. Accessing innovative tools available in Canada can help streamline processes and provide optimal options for homeowners.