Mortgage Switch Analysis
1. Home & Current Mortgage Info
If you refinanced, use the appraised value at that time
If you refinanced since, use the refinance date
💡 If you are with a major bank or have a HELOC attached, it is highly likely a Collateral Charge. Please check your mortgage documents.
💡 Current Mortgage Summary
Remaining Term: - mos2. New Switch Terms & Costs
⚠️ If unsure:
Each bank has different IRD formulas and posted rate policies. If you do not know the exact figures, please **contact your current lender directly to confirm the exact penalty.**
On a variable rate with fixed payments, your actual remaining amortization may be longer if rates have risen. Enter the Remaining Amortization shown on your mortgage statement. The switch is calculated using this same period.
Current Status (Before)
After Switch
📉 Interest Savings Over Remaining Term
(Interest saved over the same period)
+$0
💰 Net Benefit of Switching
(Interest Savings - Total Switch Cost)
+$0
Rules and figures last checked against official sources (CRA, CMHC, BC government) on 2026-10-25. Results are estimates for reference only; actual approval terms vary by lender.