Mortgage Renewal Calculators
Five free, real-time calculators built for Canadian mortgage renewals. All calculations use semi-annual compounding — the standard for Canadian mortgages. No email required. New to renewals? Start with our guide to what a mortgage renewal is.
Renewal Payment Estimator
Calculate your new mortgage payment after renewal.
Your estimated monthly payment is $3,152. Want a broker to find a lower rate?
A broker will confirm this with real lender quotes — for free.
How to Use These Calculators
Payment Estimator
Enter your balance, new rate, and remaining amortization to see your new payment. Compare monthly, bi-weekly, and accelerated options.
Rate Comparison
Enter your bank's rate and a broker's rate to see exactly how much you save monthly, annually, and over 5 years.
Amortization Extension
See what extending your amortization does to your payment and total interest — the key trade-off for affordability.
Penalty Estimator
Thinking of breaking your mortgage early? Estimate your IRD or 3-month interest penalty and the breakeven point.
Debt Consolidation
Model what rolling your credit cards, car loan, or line of credit into your mortgage does to your monthly cash flow.
Canadian Mortgage Math Note
Unlike US mortgages, Canadian mortgages compound semi-annually (twice per year), not monthly. This means the effective monthly rate is slightly different from the nominal annual rate divided by 12. For a complete list of Canadian mortgage terms and how they affect your renewal, see our mortgage renewal glossary.
Effective monthly rate = (1 + annual_rate / 2)^(1/6) − 1
Monthly payment = P × [r(1+r)^n] / [(1+r)^n − 1]
Where: P = principal, r = effective monthly rate, n = number of payments
Want a Broker to Confirm These Numbers?
Get real lender quotes from 30+ lenders — free. A licensed mortgage broker will validate your calculations and find you the best rate.
Calculator results are estimates only. Canadian mortgages compound semi-annually. Always verify with your lender or a licensed mortgage professional. This content is for educational purposes only and does not constitute financial or mortgage advice.