Kaitlynn MartinsReal Estate
All calculators & tools

Selling · Calculator

Mortgage Renewal Calculator

Estimate how a different interest rate at renewal could affect your future mortgage payments.

  1. 1Enter detailsAdd your numbers
  2. 2Review costsSee the breakdown
  3. 3See resultsYour estimate updates live

Your details

Change any number — results update instantly.

Current payment

$2,914

Estimated new payment

$3,480

Monthly difference

+$565

$6,781 per year

Scenario comparison

New rate -1% (3.50%)$3,190
New rate -0.5% (4.00%)$3,333
Selected new rate (4.50%)$3,480
New rate +0.5% (5.00%)$3,630
New rate +1% (5.50%)$3,783

Over the 5-year term

Estimated interest during term$113,624
Estimated balance after term$454,850
$208,774Paid over 5 yrs
  • Interest during term — $113,624
  • Principal paid during term — $95,150

Thinking About Selling?

Get a personalized estimate based on your property, mortgage and selling goals.

Request My Home ValuationTalk to Kaitlynn

Calculations provided by this tool are estimates for general informational and educational purposes only and should not be relied upon as financial, mortgage, tax, accounting, investment or legal advice. Actual mortgage payments, qualification requirements, taxes, rebates, closing costs, commissions, rental amounts and other expenses may vary based on the property, lender, municipality, transaction and individual circumstances. Government programs, tax rates, mortgage rules and regulatory requirements may change without notice. Users should confirm all figures and eligibility requirements with the appropriate lender, mortgage professional, lawyer, accountant, municipality, government authority or other qualified professional before making a financial or real estate decision. Kaitlynn Martins and RE/MAX Your Community Realty Inc., Brokerage do not guarantee the accuracy or completeness of calculations generated by this tool.