FINANCIAL TOOLS / UNDERSTAND THE CHANGE
Mortgage Renewal
Your next payment. The balance after this term. The trade-offs in between.
All amounts are CAD. Your entries stay in this page and are not saved.
Ready when you are
A clear answer starts here.
Enter your renewal details, or use the labelled example. No rate or household balance is assumed.
Show calculation details
Canadian nominal annual fixed rate compounded semi-annually. Payments occur in equal periods, in arrears. This is an estimate, not a lender statement or rate forecast.
The monthly reference payment is rounded to cents first. Semi-monthly and accelerated biweekly use half; regular biweekly uses 12/26; regular weekly uses 12/52; accelerated weekly uses a quarter. Each transformation and period interest use half-up cents. Lender conventions may differ.
Biweekly durations must be multiples of six months; weekly durations multiples of three. No partial period or earlier comparison boundary is invented. A final payoff payment may differ from the scheduled payment.
One offer uses FIN3.1 1.1.0; common-state offers use FIN3.1C 1.2.0. Hypothetical repayment changes use TOOLS2-A1 repayment-scenarios 1.0.0 over FIN2 1.2.0. All remain pending independent review.
A renewal estimate with a clear stopping point
Use the principal expected at renewal, the remaining repayment timeline, your quoted fixed rate, proposed term and payment cadence. Start with one estimate, then compare a different repayment timeline or fixed offers you already have.
Reproducible example: $410,000 principal, 21 years remaining, 4.89% fixed rate, a 5-year term and monthly payments, with no maturity cash or current-payment reference. Select “Use example” to calculate it. This is illustrative, not a current market quote.
Fees, penalties, switching charges, cashback conditions, new mortgage-insurance premiums and taxes are excluded. Interest differences are not all-in savings. This tool does not decide approval, affordability, refinancing treatment or stress-test exemptions.
Read the renewal guide, amortization guide, fixed versus variable guide and extra mortgage payments versus investing guide.
Source context: FCAC renewal guidance and terms and amortization. Confirm actual costs and conditions with your lender.