Payment Shock Calculator

Prepare for mortgage renewal by comparing your current rate to today's market rates.

Loan Details

Enter your remaining mortgage balance and current amortization.

Mortgage Balance$400,000

Current Rate (%)2.99%

Rem. Amortization (Years)20

New Scenario (Renewal or Refi)

Adjust the rate and amortization for your upcoming term.

New Interest Rate (%)5.25%

New Amortization (Years)20

Extending amortization can lower payments but costs more in long-term interest.

Monthly Payment Shock

+$0

increase per month

Current Payment:$0

New Payment:$0

Increase:%

Why use this tool?

Many Canadians who locked in rates between 2020-2022 are facing a "renewal cliff."

By visualizing the Payment Shock early, you can adjust your household budget or explore options like extending amortization to keep your monthly costs manageable.

Pro Tip: 120-Day holds available.

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Note: This calculator assumes constant principal balance and is intended for illustrative purposes. Your actual renewal offer may include different compounding or fee structures.