Payment changes, renew-versus-switch comparisons, penalties and amortization choices, with the arithmetic shown step by step.
Most renewal decisions come down to a few calculations: what your new payment will be, how much interest you pay over the term with each offer, what it costs to move, and whether breaking or extending the mortgage early makes sense. This group works through each one with illustrative numbers so you can redo them with your own figures.
Begin with the mortgage renewal checklist, which runs from about six months before maturity to the first payment of the new term. The other guides cover the payment increase when a low-rate term ends, renewing versus switching lenders, negotiating the renewal offer, prepayment penalties and the interest rate differential, early renewal and blend-and-extend, extending the amortization, and using prepayment privileges at renewal.
The renewal payment calculator shows the payment for the balance and amortization left, the renew-vs-switch calculator compares two rates and the break-even on switching costs, and the three-month interest penalty estimator gives the minimum penalty for breaking a term. The renewal checklist keeps track of each step. All figures are illustrative.
Worked Renewal Numbers and Checklists
How early renewal windows and blend-and-extend offers work in Canada, with worked blended-rate arithmetic, what you are really betting on, and questions to ask your lender.
Worked Renewal Numbers and Checklists
What extending a mortgage amortization at renewal in Canada does to your payment and total interest, who can do it, insured limits, and a plan to shorten it again later.
Worked Renewal Numbers and Checklists
A step-by-step Canadian mortgage renewal checklist from six months before maturity to your first new payment, with documents to gather, numbers to run and deadlines.
Worked Renewal Numbers and Checklists
A practical method for negotiating a Canadian mortgage renewal offer: what to gather, what to ask, a sample script, what a lower rate is worth, and when to walk away.
Worked Renewal Numbers and Checklists
How Canadian lenders calculate the penalty for breaking a mortgage term early, with worked three-month interest and IRD examples, the posted-rate method and when breaking pays.
Worked Renewal Numbers and Checklists
How to use the penalty-free prepayment moment at renewal in Canada, with worked lump-sum and accelerated biweekly examples and how to weigh prepaying against a TFSA or RRSP.
Worked Renewal Numbers and Checklists
Compare a mortgage renewal offer with another lender's rate in Canada, including discharge, legal and appraisal costs, cash-back, break-even and interest over the term.
Worked Renewal Numbers and Checklists
Calculate the payment increase when a low-rate Canadian mortgage term ends, with a full worked example, a rate sensitivity table and three ways to soften the jump.
