Renewing Your Mortgage
Renewal Comparison Calculator
Compare your lender's renewal offer with an alternative — see the true cost of staying vs. switching.
Your Mortgage at Renewal
$
Years left on your original amortization schedule
years
Compare both options over this period
Your Lender's Renewal Offer
Illustrative rate — not a live lender offer
%
Alternative Mortgage Option
Illustrative rate — not a live lender offer
%
A longer amortization lowers payments but increases total interest
Switching Costs
$
$
$
$
Any cash-back or incentive offered by the new lender
$
Comparison over 5 years
Lender's Offer
Monthly payment
$2,490.70
Interest paid
$96,180
Balance remaining
$296,739
Alternative
Monthly payment
$2,345.51
Interest paid
$83,774
Net switching costs
$3,350
Balance remaining
$293,044
Net Result (after switching costs)
Interest + fee difference
$9,056 saved
Payment difference
$145.19 less/period
Results are estimates based on Canadian semi-annual compounding. Rates shown are illustrative examples, not live lender offers. Switching costs are estimates — confirm with your lender. Calculated: 2026-10-22.
Ready to review your renewal options?
WealthKey will shop your renewal across 50+ lenders to make sure you're getting the best rate.
Review My Renewal OptionsWealthKey Mortgage Brokerage Inc. · FSRA Lic. #13857 · 1.888.887.3642