Renewal Analysis
Renewal Optimizer
Compare your renewal options and calculate if it's worth breaking your current mortgage early.
Renewal Optimizer
How many years left to fully pay off the mortgage
Renewal Analysis
Current Payment
$3,026
At 5.89%
New Payment
$2,848
At 5.19%
Monthly Savings
$178
Per month
Break-even Period
15 months
To recover penalty
Consider Waiting for Renewal
The break-even period is too long or savings are minimal
Note: Penalties vary by lender and term structure. Always confirm exact penalty calculations with your current lender before proceeding.
Renewal Strategy Tips
Timing Matters
Start shopping for rates 120 days before renewal. You can negotiate with your current lender or switch without penalty.
Breaking Early
If rates drop significantly, breaking early might save money despite penalties. Calculate the break-even point carefully.