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Mortgage Renewal Payment Shock Calculator Canada (2026): Use Your Actual Quote
Compare a current mortgage payment with a user-entered renewal rate and amortization. See the payment difference without treating a market snapshot as an offer.
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Treat this as a budget signal. Compare the lender's full offer, preserve essential cash flow, and ask about options before the renewal date.
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This calculator answers one bounded question: what payment difference would result if the renewal rate and remaining amortization you enter were used? It is a calculation, not a lender quote or a recommendation to refinance.
Enter the current balance, current monthly payment, current rate, remaining amortization, and an actual expected renewal rate. If you do not have a quote, test a range yourself and label it as a scenario. The calculator does not know your lender’s underwriting, fees, prepayment privileges, property value, income, or renewal terms.
What to verify before acting
FCAC says a federally regulated lender must provide a renewal statement at least 21 days before the end of the term. It also recommends discussing options with the lender and shopping around; extending amortization can reduce payments while increasing interest cost. Read FCAC’s mortgage-renewal guidance and mortgage prepayment guidance.
Compare the full offer, not only the headline rate: payment frequency and amortization; lender, appraisal, legal, discharge, and transfer costs; prepayment privileges and penalties; whether a refinance or debt consolidation changes the underwriting; and what happens if rates, income, or expenses change.
If your budget already has a deficit or you have an active CRA, court, support, or collection notice, use the job-loss runway calculator or notice triage flow as appropriate. Do not treat a payment-shock output as proof that a consumer proposal or HELOC will be approved.
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Frequently Asked Questions
Disclaimer
This calculator provides estimates for educational purposes only. Actual results may vary based on your specific circumstances. For accurate assessments, consult with a Licensed Insolvency Trustee or qualified financial professional.
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Eliminate Other Debt Before Your Renewal Date to Free the Cash Flow
Use an illustrative debt-payment scenario alongside your renewal budget. Actual proposal terms and mortgage-renewal outcomes require file-specific review with a trustee and lender.