Mortgage renewal calculator
Renewing soon? Put in your balance and the rate you've been offered to see your new payment, how it compares with today, and what you'll still owe at the end of the term.
Your results
- Your new monthly payment
- $2,521.62
$404.53 more than now ($2,117.09 at 2.5%).
- Owed when the 5-year term ends
- $330,545
- Interest paid during the term
- $81,842
- Principal paid during the term
- $69,455
Assumes 4.5% stays the same for the 20 years left, with interest compounded twice a year as on most Canadian fixed-rate mortgages. Your lender's figures may differ by a few dollars.
General information, not financial or tax advice. Check your own numbers in CRA My Account on canada.ca, or with a licensed adviser. This doesn't include mortgage insurance, property tax or prepayment penalties.
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Where the numbers come from
Checked 8 November 2026.