Mortgage · Canada

Refinance analysis.

Compare your current mortgage with a new one. See monthly savings, break-even point, and lifetime interest difference.

Inputs

Current mortgage
$
%
New mortgage
%
$
Legal fees, appraisal, discharge, and any penalty.

Refinance analysis

Fill the form and press Calculate.

When refinancing makes sense

Refinancing is usually worthwhile when the new rate is at least 0.5%–1% below your current rate, you plan to stay in the home past the break-even date, and you have equity above 20% to avoid CMHC re-insurance.

Disclaimer

Estimates for educational purposes only. Speak to a mortgage broker about prepayment penalties before breaking your existing term.