MORTGAGE RENEWAL Calculator

MORTGAGE RENEWAL DOESN’T NEED TO BE COMPLICATED

Make sure you’re prepared with our easy-to-use mortgage renewal calculator. Compare different renewal rates, payment frequencies, and amortization options to see how your monthly payments and total interest costs could change. Explore scenarios with extra payments to find out how much faster you can be mortgage-free, and understand the long-term savings of locking in a lower rate. Whether you’re considering switching lenders, negotiating with your current one, or just planning ahead, this tool gives you the clarity you need to make confident, money-smart renewal choices.

Determine Your Payments

Payments of
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  • Interest over term$–
  • Principal over term$–
  • Balance at end of term$–

Amortization

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Figures are estimates only for illustrative purposes. Actual payments may vary based on qualification and lender terms.

How to Use the Calculator

Our calculator is designed to help you understand what your mortgage payments will look like at renewal, and how different scenarios affect your total interest and balance.

1. Enter Your Renewal Details

On the main “Determine Your Payments” panel:

  • Mortgage Size – Enter your remaining balance at renewal.

  • Mortgage Rate (%) – The interest rate you’re offered (or want to test).

  • Mortgage Term – How long until you’ll renew again (e.g., 5 years).

  • Payment Frequency – Choose how often you’ll make payments (monthly, biweekly, weekly, or accelerated options).

  • Amortization Remaining – Enter how many years and months remain on your mortgage until it’s fully paid.

2. Review Your Results

At the right side of the panel:

  • Payments of $X – Your payment amount per period.

  • Interest over term – Total interest you’ll pay during the chosen term.

  • Principal over term – Amount of your mortgage you’ll pay down during the term.

  • Balance at end of term – How much of your mortgage will remain after the term ends.

3. Review Your Results

  • Check the “Compare with a second scenario” box to open a second panel.

  • Enter different values (e.g., lower rate, shorter amortization, accelerated frequency).

  • The chart and table will now show both scenarios (A & B) side by side:

    • Interest (A) vs Interest (B)

    • Balance (A) vs Balance (B)

Need Help? We’re here for you!

At Browne Mortgage, we know that renewing your mortgage can feel like a big decision — that’s where we come in. With over 20 years of industry expertise, our dedicated team of experienced mortgage brokers is here to guide you through every step of the renewal process. Rooted in the Fraser Valley, our strong family ties to real estate and trusted relationships with realtors, banks, and lenders give us a unique advantage in negotiating the most competitive renewal rates available.