Compare renewal payments, interest costs, remaining balances and switching fees over the same term.
Compare the full term.
Both options use the same balance and remaining amortization, monthly payments and Canadian fixed-rate compounding. Include legal, discharge, appraisal and other costs net of confirmed lender rebates. Portability, prepayment terms and qualification still matter.
How should I compare staying and switching lenders?
Use the same comparison term, balance and remaining amortization. Include switching fees and compare interest costs and the balance left at the end, as well as payment and contract flexibility.
A useful way to test your assumptions
Enter actual written offers when available. Test whether a lower payment comes from a lower borrowing cost or a longer repayment period. A calculator cannot establish that a new lender will approve the switch.
Calculations stay in your browser. You can explore without signing up or authorizing a credit check.
Calculation references: FCAC: QualificationCMHC: Mortgage calculationsFCAC: Down payments · Reviewed October 7, 2026
Use the estimate as a starting point.
Change the inputs to explore what is comfortable for you. A lender’s decision also depends on your credit, verified income, the property and its own requirements. These tools do not pre-approve you or provide a rate quote.
Use offers with the same term and amortization. Compare net interest costs after fees, and check prepayment and portability conditions before switching.
A real conversation. Clear options. A plan built around you.