Mortgage & financing
Mortgage Renewal Comparison
Compare monthly payments and interest for two renewal-rate options.
Calculate your result
What this calculator estimates
Compare payment options at renewal. It combines the inputs below to produce Lower monthly payment. Every assumption remains editable so the estimate can reflect the property, financing and location being evaluated.
Worked example
Using the displayed sample assumptions, the calculator produces $2,477. This is an illustration, not a market quote. Change one input at a time to understand what drives the result.
Inputs and assumptions
- Balance at renewal — sample input: 400000 currency units
- Remaining amortization — sample input: 20 years
- Option A interest rate — sample input: 4.25 %
- Option B interest rate — sample input: 4.75 %
- Option A fees — optional — sample input: 0 currency units
- Option B fees — optional — sample input: 0 currency units
How to interpret the result
Compare the payment with your total housing budget, not income alone. Compare a conservative case with an expected case and keep a record of the assumptions used.
Common mistake to avoid
Avoid assuming the lowest advertised rate applies to every borrower. Local definitions, taxes, lending practices and measurement requirements can materially change the result.
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Reviewed 2026-09-08.