Mortgage renewal calculator Canada
Most lenders let you lock a rate about 120 days before maturity. Federally regulated lenders aren't expected to re-test same-lender renewals under the stress test. Some straight switches may skip the stress test, depending on the lender and the mortgage. Do not sign the first letter. Open renewal mode below and read the scripts.
Rules verified: 2026-07-13 · Methodology
| Remaining balance | P&I at 1.99% | P&I at 4.29% | Increase |
|---|---|---|---|
| $300,000 | $1,269 | $1,626 | $357 |
| $400,000 | $1,692 | $2,167 | $476 |
| $500,000 | $2,115 | $2,709 | $594 |
| $600,000 | $2,538 | $3,251 | $713 |
Remaining 25-year amortization — 1.99% (2021 example) vs 4.29%. Same engine as the form below.
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 21 November 2024, a stand-alone uninsured straight switch from one federally regulated lender to another, with no increase in the loan amount or remaining amortization, no longer has to use the set qualifying rate, though the new lender still assesses whether you can afford the payments.
- Read the switching playbook before you assume you are stuck.
Related Tools & Resources
Mortgage Calculator
Full payment calculator with CMHC insurance and stress test.
Renewal payment shock (2026)
2021 1.99% vs 4.29% P&I on $300k–$800k remaining.
Prepayment Penalty Calculator
Calculate the cost of breaking your mortgage early.
Stress Test Calculator
Mortgage stress test: greater of contract + 2% or 5.25%.