Renewal payment shock calculator
See how your monthly payment could change when your mortgage renews at today's rates, and the amortization you'd need to keep your current payment.
Mortgage rules last reviewed: September 29, 2026
- Current monthly payment
- $2,358
- Payment at the renewal rate
- $2,930
- Change per month
- +$572
- Change per year
- +$6,869
- Percent change
- +24.3%
- Amortization needed to keep your current payment
- 30 years, 5 months
For illustration only. Not a rate quote, approval or pre-qualification.
How this is calculated
- Whether you can extend your amortization at renewal depends on your lender's policy and on how you qualify.
- Estimate only. It assumes the same balance and remaining amortization, and semi-annual compounding as in Canadian fixed-rate mortgages.
Calculator disclaimer
Calculators are provided for general informational and illustrative purposes only.
Results are estimates and may not reflect lender-specific qualification requirements, mortgage-insurance premiums, taxes, fees, available products, payment calculations or other transaction costs.
Calculator results do not constitute:
- Mortgage approval
- Pre-approval
- A rate commitment
- A lending commitment
- Financial advice
- Tax advice
- Or legal advice
Mortgage rules, rates and lender requirements can change.
For advice about your specific circumstances, speak with the appropriate licensed professional.
But how does this apply to your business income?
This calculator estimates the numbers you entered. How a lender treats your salary, dividends or business income is a separate question, and it's the one the Mortgage Readiness Review looks at first.