Calculator
Mortgage Renewal Calculator
Compare your current vs. renewal rate and understand the true cost impact of renewing in a higher (or lower) rate environment.
$350,000
2.50%
5.50%
20 years
5 years
Stress Test Qualifying Rate
7.50%
You must qualify at max(5.25%, renewal rate + 2.00%). Since your rate is ≥3.25%, rate+2% applies.
Payment Increase
+$542.91/mo
vs. expiring rate of 2.5%
Current Monthly Payment
$1,852.46
At 2.5%
New Monthly Payment
$2,395.37
At 5.5%
Extra Cost Over Term
$32,574.72
Over 5-year term