Mortgage renewal calculator
Compare the payment, term interest, and projected balance before signing a renewal offer.
Illustrative rate set by Abir: 4.49% · Updated Jul 23, 2026
Enter the amount paid monthly.
Estimated renewed payment
$3,149.38
Monthly
$409 lower than the entered current payment.
- Current payment
- $3,558.14
- Payment change
- -$408.76
- Current term interest
- $137,400
- Renewal term interest
- $102,069
- Current balance after term
- $423,912
- Renewal balance after term
- $413,106
- Extra principal if payment stays
- $27,411
Payment breakdown
- Interest at proposed rate
- $102,069
- Principal repaid
- $86,894
Compare the whole term
A lower payment is only one part of a renewal. Compare interest over the term, the ending balance, prepayment options, and lender terms.