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renewal

I am working in the US for a few years. How do Canadian mortgage renewals work for me?

Your Canadian mortgage renews even if you live abroad — the lender does not care where you live, only whether the property is still your principal residence or has converted to a rental. If you are renting it out, you must notify the lender (it changes the risk class and may trigger a rate adjustment). Income verification gets harder: most lenders require Canadian-source income or a sponsor; some Big 6 will accept US W-2 if you have a Canadian credit history and CRA filings on record.
What your bank didn’t say

A few brokers specialise in cross-border files (look for CMP-licensed advisors who say "expat" or "foreign income" on their site). Going through your existing branch is usually the worst option — they default to the most conservative underwriting and rate. The "I am moving abroad" disclosure is also where some borrowers get caught: not telling the lender is a misrepresentation that can void the mortgage entirely.

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More on renewal

PropTrust is a Canadian property data platform. We are not a lender, broker, real estate agent, landlord, or paid advisor. This is information about how the rules work — not advice on your specific situation. For that, talk to a licensed professional.