Hi

I have mortgage of $120,000 and 10 year left. My mortgage is coming for renewal.

I would like to increase the amortization period from 10 to 15. I am planing on using the extra cash towards schooling. I think this will improve my chance of getting promoted.

I guess my question, is it possible to increase the amortization period at renewal time and how much would it cost? would it effect the interest they are offering?

thanks.

Yes, can increase period.
Rate depends on mortgage terms (fixed/variable/duration) and your credit score. Going from 10 to 15 will not increase the rate

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