Mortgage calculator
Break or keep a mortgage calculator
Compare estimated interest, payments, remaining balances, penalty, and transaction costs over the same period.
Estimated additional cost$1,376Interest difference over 24 months after entered penalty and costs.
- Current monthly payment
- $3,251
- Proposed monthly payment
- $2,908
- Current interest
- $53,106
- Proposed interest + costs
- $54,482
- Current balance after period
- $475,073
- Proposed balance after period
- $471,181
- Estimated interest break-even
- 27 months
Assumes the same starting balance, remaining amortization, monthly payments, and unchanged rates. It excludes qualification, cashback repayment, tax effects, portability, and any costs not entered.
How to use this estimate
Use current documents.Enter figures from the mortgage statement, renewal offer, payout quote, appraisal, or commitment where possible.
Compare like with like.Use the same balance, time period, and payment frequency when comparing alternatives.
Check the actual terms.Qualification, fees, compounding, privileges, and lender calculations may produce different results.