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Refinance calculator

See how much a lower mortgage rate could save you each month, each year and over the years left on your mortgage.

Refinance savings

Monthly savings

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Per month in your pocket

Yearly savings

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Every year going forward

$400,000
6.00%
5.00%

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Current monthly

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New monthly

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Debt interest saved per year

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Saved over the years left

Get your real numbers, free

Estimate only, using the rates you enter. Payments use Canadian semi-annual compounding over the years left. For debts, it compares a year of interest at your debts’ rate with the same amount at the new rate. Your real rate depends on your equity, credit, income and property, and every mortgage is subject to lender approval (O.A.C.).

How this calculator works

We work out your monthly payment at your current rate and at the new rate over the years you have left, using Canadian semi-annual compounding. The difference is your saving. It’s an estimate using the rates you enter, not an offer: breaking a mortgage early can mean a penalty, which we check for you first. Every mortgage is subject to lender approval (O.A.C.).

Find out what you could save.

A free, no-obligation review. We’ll look at your current mortgage and show you exactly how much you could be saving. No pressure. Just numbers.