Canada Refinance Calculator
Analyze refinance savings, monthly payment reduction, total interest impact, and closing-cost break-even timeline. Optimized for Canada and tuned for refinance monthly savingsscenarios.
Refinance Savings Calculator
Compare current and refinanced loan scenarios and estimate break-even period.
Refinanced Monthly Payment
$2,568
Region assumptions: Canada (CAD)
Current Monthly Payment
$2,777
Monthly Savings
$209
Break-even
20 months
Net Lifetime Savings
$112,711
Scenario insights
- Current tenure considered: 22 years
- Refinance closing costs: 4,000
Worked Example
If current balance is $350k at 7.8% and you refinance to 6.3%, a monthly saving near $250 may recover $4,000 closing costs in about 16 months.
Modeling Assumptions
- • Both scenarios are fixed-rate
- • No prepayment penalties included
- • No tax benefit modeling
Source Inputs
- • Mortgage lender refinance rate sheets
Last updated: 2026-04-15 · Review assumptions before financial decisions.
Frequently Asked Questions
When is refinancing worth it?
Should I choose lower EMI or shorter tenure?
How do I use break-even months?
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