Renewal & switching

Put your renewal offers side by side.

Compare your lender’s quote with two alternatives. See payment relief, total interest, cash costs and the balance you will still owe.

Lowest cost · 60 monthsOffer A · $21,377 savingView full results ↓

Your comparison

I am considering breaking my mortgage before renewal

Mortgage balance ($)

Compare over (months)

Your lender’s renewal quote

Quoted renewal rate (%)

Your lender amortization (years)

Your lender quoted term (months)

Your lender cash-paid fees ($)

Your lender retained cashback ($)Amount you keep at the comparison date.

Your lender other clawbacks ($)Exclude amounts already deducted from retained cashback.

Offer A

Offer A rate (%)

Offer A amortization (years)

Offer A quoted term (months)

Offer A cash-paid fees ($)

Offer A retained cashback ($)Amount you keep at the comparison date.

Offer A other clawbacks ($)Exclude amounts already deducted from retained cashback.

Offer B

Offer B rate (%)

Offer B amortization (years)

Offer B quoted term (months)

Offer B cash-paid fees ($)

Offer B retained cashback ($)Amount you keep at the comparison date.

Offer B other clawbacks ($)Exclude amounts already deducted from retained cashback.

Offer A starts from a conventional 5-year fixed benchmark. Replace it with your actual quote; other rates are examples.

Illustrative default rate. Use the rate you were actually offered, or see today's rates.

Lowest modelled cost · 60 months

Offer A has the lowest cost

$21,377

Estimated saving against your lender, after the cash costs entered. Positive savings do not guarantee approval or account for product flexibility.

Your lender

Monthly payment: $2,924
Interest over 60 months: $114,361
Net cash costs: $0
Interest + cash costs: $114,361
Ending mortgage balance: $388,939
Saving against your lender: $0

Offer A · Lowest cost

Monthly payment: $2,676
Interest over 60 months: $92,983
Net cash costs: $0
Interest + cash costs: $92,983
Ending mortgage balance: $382,453
Saving against your lender: $21,377

Cost recovery: at the start, based on entered incentives. Same balance and no amortization increase; ask about straight-switch eligibility.

Offer B

Monthly payment: $2,724
Interest over 60 months: $97,245
Net cash costs: -$1,500
Interest + cash costs: $95,745
Ending mortgage balance: $383,788
Saving against your lender: $18,616

Cost recovery: at the start, based on entered incentives. Same balance and no amortization increase; ask about straight-switch eligibility.

A lower payment can leave more debt outstanding. Compare ending balances as well as cost. Check prepayment rights, portability, collateral charges and cashback conditions.

Assumptions, sources & limitations

Canadian semi-annual fixed compounding; monthly payments. Same principal and common horizon; no cash-out, capitalized costs, tax effects or discounting. Net cost = interest + cash fees + applicable penalty + clawback - retained cashback. Rates held constant only within quoted terms. Examples and benchmarks are not lender offers. Rules reviewed 2026-10-20. Confirm the actual payout quote and product restrictions with your lender.

At renewal, compare the lender’s new offer rather than the expiring contract rate. Early-break mode compares the existing contract only to the end of the shortest term.

Eligible uninsured straight switches between federally regulated lenders may be exempt from OSFI’s prescribed minimum qualifying rate. Lenders still assess credit and affordability. Increasing the balance or remaining amortization can change treatment. This tool does not confirm eligibility. OSFI source.

A clearer decision starts with the details.

Have an advisor review your quotes and the assumptions behind this estimate.