Mortgage renewal calculator
Model the 2025–2026 renewal wave: what your current payment looks like at today's rates, how much the payment shock is, and where a realistic rate range lands.
Start here · Canada
Get a Canada-ready pre-approval file, not a generic quote.
We shape the file to how Canada underwriters actually read it — closing math, lender appetite, and the small regional details that decide the approval.
Inputs
Result
- Balance at renewal$502,516
- Low-end payment (@ 4.04%)$3,046.84
- High-end payment (@ 5.54%)$3,450.25
- Interest over next 5-yr term$109,646
- Balance at end of term$417,436
Renewal is the one moment your lender can't hold your file hostage — the mortgage becomes portable to any lender without a re-qualifying stress test (uninsured switches under the 2024 OSFI change). Shopping the renewal is worth 10–40 bps in almost every case, which on a $502,516 balance is $2,513 to $10,050 over a five-year term.
Leverage moves
- Start shopping 120 days before maturity — you can lock a rate hold and still walk if a better offer surfaces.
- If shock is above 20%, ask about extending amortization back to 25 or 30 years to smooth the payment (available on uninsured deals).
- Never sign the renewal letter first offer — the posted-rate discount inside the letter is almost always beatable by 30–60 bps.
- Straight switches to a new lender at renewal skip the stress test but not the appraisal or legal — budget $300–800 in switch costs.
Ready when you are
Turn this number into a pre-approval file.
The math is the easy part. The approval hinges on how the file is packaged — income, down payment source, credit, and property notes underwriters actually read.