When you are considering a mortgage renewal there are some important things that you need to do in order to be sure you are making the right decision for you. There are some tips that will help you do every important thing that needs to be done to make the smart choice.Here are the tips that you need to know and use.1. Before you decide to renew your mortgage it is important to shop around. Shop around your local area and even look online for lenders. No matter where you live shopping around is imperative because your current lender may not be your best option anymore.A lot of people make the mistake of not shopping around and just renew with their current lender. Lenders expect you to do this but by doing your homework you can end up saving yourself quite a bit of money with a lender that offers you a better deal.Don't just renew without doing your homework or you will be passing up the chance to save the most money and to get the best deal possible that will benefit you the most financially.2. Before deciding on the lender to go with ask questions and get answers. By doing your homework and learning about renewing your mortgage you will be able to understand what questions need to be asked and answered.It is important to get any questions you have answered before deciding on what lender to choose or you could end up finding out later that you made a mistake.3. Don't wait until right before your mortgage renewal date. Give yourself three to six months time to research different lenders so you can make the smartest choice possible otherwise you won't have any time at all to make the smart decision.4. It is a good idea to pay down as much of the principal as you can afford when your mortgage comes up for renewal. This will help to reduce your internet rate that you pay over time since your mortgage will be a new one.5. When switching to a new lender there will be a discharge fee but most lenders if asked will waive this fee and if they don't then the new lender will often cover this for you. Also be sure to ask about negotiating any fees like legal or administrative fees.Now that you know these mortgage renewal tips you are better prepared for making the smart decision. Because this is the only way to find the best deal possible take your time and do your homework before making your final choice about who to renew with.