Mortgage calculator
Ontario mortgage renewal calculator
Compare a lender renewal offer with another rate using the same balance, amortization, and term.
Reviewed August 31, 2026Illustrative estimate
Estimated interest savings$3,965During the entered term after estimated switching costs.
- Lender-offer payment
- $2,873
- Comparison payment
- $2,778
- Lender-offer interest
- $59,281
- Comparison interest + costs
- $55,316
- Balance after term—offer
- $405,866
- Balance after term—comparison
- $404,120
Both options use the same balance, amortization, term, and monthly payment frequency. Rates are assumed unchanged during the comparison term.
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.