Canadian Mortgage Renewal & Switch Calculator
Should you stay or switch? Compare your renewal offer with a new lender to see your exact interest savings in Canada.
Current Mortgage Details
Compare Rates
The rate your current lender is offering.
The best rate you found elsewhere.
Costs to switch lenders (discharge fee, legal, appraisal). Often around $300-$500.
You should switch!
You will save {{ formatCurrency(netSavings) }} net over the {{ termYears }}-year term after paying switch fees.
Better to stay.
Switching costs outweigh interest savings. You would lose {{ formatCurrency(Math.abs(netSavings)) }} by switching.
It's a tie!
The switch fees exactly match the interest savings.
Option 1: Stay
Monthly Payment
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Interest Paid ({{ termYears }} yrs)
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Balance at Term End
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Option 2: Switch
Monthly Payment
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Interest Paid ({{ termYears }} yrs)
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Balance at Term End
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