See what refinancing would actually do
Enter a few numbers. We estimate your available equity, your new mortgage payment at 5% over 30 years, and the monthly cash-flow difference — with the trade-offs shown rather than hidden.
What could refinancing actually look like for you?
Enter 5 numbers. We estimate your available equity, your new mortgage payment at 5% over 30 years, and the monthly cash-flow difference.
Fixed for this scenario
- 5%
- New rate
- 30 yrs
- Amortization
Your Estimated Scenario
Read this before you celebrate a lower payment
A lower monthly payment does not always mean lower total interest. Stretching short-term debt over 30 years can cost more over time even when the monthly number improves — that trade-off is the conversation.
This is an illustration, not a mortgage approval or financial recommendation. Actual results depend on interest rates, penalties, lender guidelines, qualification and your full financial situation.
About this calculator
How accurate is this refinance calculator?
It uses Canadian semi-annual compounding and the standard 80% loan-to-value ceiling, so the payment and equity figures are realistic. Penalties, legal and appraisal costs are not included — your lender's payout statement is the final word.
Does using this affect my credit score?
No. Nothing here is submitted anywhere and no credit check occurs.
Why does a lower payment sometimes cost more over time?
Because a lower payment usually means a longer repayment period. We keep the trade-off visible so you can decide whether the monthly relief is worth the long-run cost.
Not sure which option fits your situation?
Bring your numbers — mortgage balance, balances you're carrying, and what's stressing you out. I'll walk you through what's realistic, including when doing nothing is the better call.