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Mortgage Renewal Comparison
See how your new rate affects your monthly payment, and how a lump sum at renewal can slash your total interest.
Not financial advice. This mortgage renewal calculator is for educational and illustrative purposes only. Results are estimates and do not account for all individual circumstances. Always consult a licensed mortgage professional, financial advisor, or real estate lawyer before making any financial decisions.
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↓ 1.20% lower
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Most lenders allow 10–20% lump sum on renewal
Monthly Payment Change
−$271/mo
$2,872 → $2,601
Old payment (5.49%)$2,872/mo
New payment (4.29%)$2,601/mo
Interest saved over 5-yr term+$23,671
Total interest saved (full amort)$65,007
Renewal tips
- • Start shopping 120 days before renewal — lenders will hold a rate
- • Don't just auto-renew; your current lender rarely offers best rates
- • A mortgage broker shops multiple lenders at no cost to you
- • Consider shorter terms if rates are expected to drop further