Renewal comparison calculator
Coming up for renewal? Compare two rates over your next term: the payment, the interest you’d pay and what you’d still owe at the end.
Difference over the term
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| Measure | Option A | Option B |
|---|---|---|
| Monthly payment | ||
| Interest over the term | ||
| Principal paid off | ||
| Balance at end of term |
How this estimate works
Both options use the same balance and remaining amortization with a fixed rate for the whole term. Switching lenders mid-term can involve a prepayment penalty; switching at renewal usually doesn’t, though there can be legal or appraisal costs. Rekha can walk you through what a switch to CIBC would involve.
Estimates are for illustration only and are not a mortgage offer, approval or rate quote. All mortgages are subject to CIBC credit approval. For your real numbers, call Rekha at 780-394-5555.
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