Can I renew my mortgage with bad credit?
Almost always yes with your existing lender — they don't re-verify credit for a straight renewal. Switching to a new lender or refinancing does require credit approval, and a score below 620 will restrict you to alternative (B) or private lenders at 1%–3% higher rates.
The 'don't shop the renewal if credit dropped' rule is the single biggest reason big banks retain low-quality renewal business at above-market rates. If your credit score has dropped materially since origination, staying with your existing lender at their renewal offer is often the only option — but negotiate aggressively, because they know you can't easily leave.
If credit has recovered to 680+, you're fully back in the market and should shop as normal. Between 620–680, expect a smaller lender pool but still meaningful competition — a broker's shortlist is especially valuable in this range.
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Jay Klair, Mortgage Agent Level 2 (M09000869) — Real Mortgage Associates, FSRA #10464, part of the DLGC Group of Companies · 5675 Whittle Rd, Suite 100, Mississauga, ON L4Z 3P8