How is it calculated?
Renewing and borrowing separately keeps the mortgage cheap but adds a costly loan; refinancing spreads the extra over the mortgage. We compare the monthly cost and the new loan-to-value.
What should I do with the result?
Use it to set a budget or a target rate, then let lenders bid on your actual mortgage. Bids include rate, penalty method, prepayment and fees, so you can compare the full cost.
MBWritten by the MortgageBids.ca editorial team. Last updated October 7, 2026. General information only; your lender confirms terms for your file.
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