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How much will your payment change at renewal?

If your Ontario mortgage renews at a higher rate, your payment jumps. Enter today's payment and see the new one — then the levers that soften it.

From your statement

Bank of Canada posted 5-year rate (series V80691335), 2026-10-28 — posted rates published by the Bank of Canada, not a quote. Replace it with your offer.

Enter your current monthly payment to see the change at renewal.

How this tool works

  • New payment = the balance at renewal repaid over the amortization left, at the renewal rate (monthly, compounded semi-annually).
  • The rate field starts at the Bank of Canada's latest published posted 5-year conventional rate (series V80691335) — posted rates published by the Bank of Canada, not a quote. Most borrowers are offered less; replace it with your offer.
  • Federally regulated lenders must send your renewal statement at least 21 days before the term ends (FCAC). Start looking about four months out.

Rules checked 2026-10-23. Estimates only, not an offer or advice; a licensed broker confirms the numbers and every mortgage is subject to lender approval. Everything is calculated in your browser. The amounts you type are never sent to us.

Read next: Renewal vs switch + planner · How to negotiate your renewal

Questions about the payment shock at renewal tool

Why does my payment go up at renewal?

Because your rate resets to whatever you renew at. If it's higher than the rate you had, the same balance over the remaining amortization needs a bigger payment.

Can I keep my payment the same?

Sometimes, by extending the amortization. That lowers the payment but adds interest over the life of the mortgage. Insured mortgages have amortization limits; ask us what your lender allows.

Will switching lenders help?

Another lender may offer a lower rate. At maturity there's no penalty to switch, and an uninsured straight switch doesn't need the stress test (OSFI). Compare in the renewal vs switch tool.

More tools: Renewal vs switch · Compare your offers · Fixed vs variable over time · Prepayment savings · Offer check

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Ask for options from actual lenders

A tool can only estimate. Tell us your plans and we'll come back with options from actual lenders — no cost to talk.

You can also call us at (416) 371-2077.

What are you looking to do?
Roughly how large is the mortgage?

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We use these details to call you back about your mortgage, and store them in Canada. If we introduce you to a partner broker, we tell you first and share only what you have given us here. See our privacy policy. Stonefield Mortgage is a trade name of Stonefield Capital Inc., FSRA mortgage brokerage licence #13722. A pre-approval or quote is subject to lender approval.