MoneyRestartMORTGAGE PLANNING
Prepare for your mortgage renewal
Compare the payment and interest implications of your own mortgage assumptions. Start with a current statement and any written offer you want to assess.
Open the mortgage comparison flowEnter your household information and debts, then review the mortgage fields in the decision step. You do not need to enter account numbers or your lender login.
Gather the figures that affect the comparison
- Current principal, rate and remaining amortization.
- The new rate and proposed amortization.
- Monthly, biweekly or accelerated biweekly payment frequency.
- Fees, penalties, incentives and any consolidation amount.
Leave unknown figures for follow-up with your lender instead of treating an estimate as a quote.
Review more than the payment
Compare the estimated payment, first-five-year interest and entered net switching costs together. A lower payment with a longer amortization does not by itself demonstrate lower total borrowing costs.
Adding consumer debt to a mortgage can spread it over a longer period and changes the nature of the borrowing. Review the full terms and costs with an appropriate professional.
These are scenarios, not lending offers
The comparison uses the selected country’s modeled compounding convention and payment frequency. It does not predict future variable-rate changes or lender-specific costs you have not entered. Actual schedules and rounding can differ.
Read official mortgage and debt resources