Canadian Mortgage Renewal Calculator

Renewal details

Current balance at renewal

What you still owe at the end of your current term.

New annual interest rate

Remaining amortization

How many years are left until the mortgage is paid off.

New term

The rate commitment period you're signing up for now.

Payment frequency

Original mortgage was CMHC-insuredDid you put less than 20% down originally? Insurance stays with the mortgage through renewals.

Show stress testQualifying payment at contract rate + 2% or 5.25%, whichever is higher

Monthly payment$2,299.94

Renewal principal$350,000.00Conventional (uninsured)

Total interest (to payoff)$201,985.03

Total cost$551,985.03

Balance at end of term$291,824.41After 5-year term

Stored locally on this device only — never sent anywhere.

c  = (1 + r/2)^(2/k) − 1
M  = B · [ c · (1 + c)^n ] / [ (1 + c)^n − 1 ]

At renewal the math is a fresh amortization against the outstanding balance at the new rate — no CMHC premium is re-added because insurance (if any) was paid once when the mortgage was originated and follows it through renewals.
If the original mortgage was CMHC / Sagen / Canada Guaranty insured, that insurance carries over even if you switch lenders. Conventional (uninsured) mortgages cannot acquire insurance at renewal.
As of November 2024, OSFI removed the B-20 stress test for borrowers switching an insured mortgage to a new federally-regulated lender. Uninsured switches still require qualifying at max(rate + 2%, 5.25%).