RENEW & REFINANCE / YOUR NEXT MOVE
Make renewal a considered move.
Compare mortgage renewal payments, term-end balances, prepayments and refinancing costs with the same underlying assumptions.
The question behind the numbers.
Compare renewal offers on the same balance, remaining amortization, payment frequency and term. Read interest, fees and the term-end balance alongside the payment; a smaller payment can come from repaying principal more slowly.
Isolate the rate change.
Enter the balance expected at renewal and the remaining repayment period. Compare an illustrative new rate with your current-rate reference. The reference is not an offer to keep the old rate.
Open Mortgage Renewal Payment Change ↗Give fees a place in the comparison.
A refinancing comparison should include the quoted penalty and other switching costs. The model separates interest savings from principal repayment and assumes fees are paid in cash.
Open Refinance Cost & Break-Even ↗See what an extra payment changes.
Compare the regular schedule with an initial lump sum and monthly extra. The calculation does not decide your prepayment privileges. Confirm the contract before making a payment.
Open Mortgage Prepayment Planner ↗THE NEXT QUESTIONS
A little more clarity.
Should I compare only the monthly payment?
No. Compare the amortization, interest, fees, flexibility and balance at term end as well. Extending repayment can lower a payment while increasing total interest.
Does a calculated break-even date guarantee refinancing is worthwhile?
No. It applies only to the entered balances, rates, costs and period. Actual penalties, future rates, qualification and contract terms need separate review.
A clearer mortgage renewal comparison ↗
Compare rate changes, payment changes, fees and remaining balances without mixing unlike mortgage scenarios.
Editorial and model context reviewed October 24, 2026. MITEY editorial team.
Primary context: FCAC: renewing your mortgage ↗. Read each tool’s formula and exclusions; these are educational scenarios.