Mortgage renewal calculator Canada
Most lenders let you lock a rate about 120 days before maturity. Do not sign the first letter — a straight switch often skips the stress test.
What to do
- Start 4–6 months out — the 120-day rate hold is the last mile, not the start.
- Open the calculator in renewal mode and enter your remaining balance, rate, and amortization so you know what the letter is actually costing.
- Get at least one outside quote. Since November 2024, a straight switch (same amount and amortization, new lender) usually does not re-trigger the stress test.
- Read the switching playbook before you assume you are stuck.
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