Mortgage renewal calculator
Compare the payment, term interest, and projected balance before signing a renewal offer.
Illustrative rate set by Abir: 4.79% · Updated Jul 31, 2026
Enter the amount paid monthly.
Estimated renewed payment
$3,229.18
Monthly
$329 lower than the entered current payment.
- Current payment
- $3,558.14
- Payment change
- -$328.96
- Current term interest
- $137,400
- Renewal term interest
- $109,097
- Current balance after term
- $423,912
- Renewal balance after term
- $415,347
- Extra principal if payment stays
- $22,225
Payment breakdown
- Interest at proposed rate
- $109,097
- Principal repaid
- $84,653
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.