See how your rate compares with today’s best rates, when your renewal is coming, and what the gap costs you each year. Then we keep watching it for you.
Slide to the month your term ends and tap Track my mortgage. A few short questions about your rate and balance, and your grade comes back on the spot.
What does the grade measure?
How far your rate sits above today’s best available rate for your type of mortgage. At or below it is an A+. Each step down the scale is a wider gap, and more than 1.90% above is an F. You also see roughly what that gap costs you a year on your balance.
Which rate is my mortgage compared with?
Today’s best available fixed rate if you are fixed, or the best variable rate if you are variable. The rates load live when you open the card. If they cannot load, the card does not grade rather than guess with an old number.
What happens after I tap Track my mortgage?
You pick your renewal day, fixed or variable, your lender, your rate and roughly what is left. The value of your home and your payment are optional. Then you add your name and email and see your grade, the yearly cost of the gap, when you renew, and your equity and payoff year if you added them.
Do I need my exact renewal date?
No. Slide to the month your term ends. If you do not know the day, skip it and we use the month. Your renewal letter or mortgage statement has the exact date.
What happens after I get my grade?
Your grade goes to your inbox, and we keep watching your mortgage from that day. When there is a better option, you hear from us. You can also add a reminder to your calendar for four months before renewal, with your numbers in the notes.
Will you tell me if switching early is worth it?
Breaking a mortgage early only makes sense when the interest you save is bigger than the penalty, which is usually the higher of three months’ interest or the interest rate differential on a fixed rate. We watch for that moment and tell you when it comes, and we work through the penalty with you before you decide.
How renewals workWhy start four months before renewal?
A new lender can usually hold a rate for 60 to 130 days, so starting about four months out lets you lock one in and still take a better rate if it appears. Your lender only has to send the renewal statement 21 days before the term ends, which is too late to shop properly.
Is it free?
Yes. Grading and tracking your mortgage costs nothing, and there is nothing to sign.
