A Mortgage Broker’s Year-End Checklist for Homeowners
As the year winds down and the holidays approach, most homeowners are focused on family gatherings, travel plans, and wrapping up loose ends before the new year. What often gets overlooked is the mortgage, yet a brief year-end check-in can make a meaningful difference to your finances in the year ahead.
December is one of the best times to pause, review, and plan. Here’s a simple year-end checklist every homeowner should consider before January.
Review Your Current Mortgage Terms
Start with the basics. What rate are you paying? Is it fixed or variable? When does your term end, and what is your remaining amortization?
If your renewal is coming up within the next 12–18 months, now is the time to start planning. Early conversations create options, while last-minute decisions often don’t.
Review Your Renewal and Payment Strategy
Many homeowners wait until their bank sends a renewal letter, but by then decisions can feel rushed and options limited. If your mortgage is renewing within the next year, now is a good time to review the bigger picture, even though rates typically can’t be locked in until about 120 days before renewal.
This early review isn’t about securing a rate; it’s about understanding your options and ensuring your mortgage still aligns with your goals. Year-end is also a natural time to revisit your payment strategy. Changes in income, expenses, or priorities may mean your current setup no longer fits as well as it once did.
Whether it’s adjusting payment frequency, considering accelerated payments, or simply ensuring your cash flow feels comfortable, small, intentional changes can have a meaningful long-term impact, and help you head into the new year feeling prepared rather than pressured.
Review Your Equity and Flexibility
Your home equity can be a powerful financial tool, but only if it’s structured properly.
If you don’t currently have access to a home equity line of credit, or if your existing setup no longer suits your needs, it may be worth reviewing. Having access to equity doesn’t mean you need to use it; it simply provides flexibility if the unexpected arises.
Look Ahead to the New Year
Are there changes coming in the next 12–24 months? A growing family, renovation, career move, or potential relocation can all affect how your mortgage should be structured.
Year-end is the perfect time to think beyond today and ensure your mortgage supports where you’re headed, not just where you are now.
Separate Rate Headlines From Reality
It’s easy to get caught up in year-end rate predictions and headlines. While rates matter, the best mortgage decision is always personal.
Rather than trying to time the market, focus on whether your current mortgage aligns with your risk tolerance, financial goals, and future plans. A strategy built around your situation will always outperform one based on headlines alone.
A Final Year-End Check-In
One of the biggest advantages of a December mortgage check-in is peace of mind. A brief conversation now can help you enter the new year informed, confident, and prepared, without scrambling later.
A mortgage doesn’t need constant attention, but it does benefit from occasional reviews, especially at natural milestones like year-end. The holidays are about comfort, stability, and looking ahead with optimism, and taking a little time now to review your mortgage can help ensure your home and finances continue to support those goals well into the new year.
