Calculator
Shopping your renewal instead of auto-accepting your lender's offer is one of the easiest ways to save on a mortgage.
| Scenario | Payment | Total interest | Total paid |
|---|---|---|---|
| Lender 1 | $2,849/monthly | $354,563 | $854,563 |
| Lender 2 | $1,496/accelerated biweekly | $330,310 | $831,530 |
Lender 2 — accelerated biweekly
Paying accelerated biweekly pays this mortgage off 3.6 years earlier than monthly, saving $67,024 in interest.
Lender 1
Lender 2
Printing and amortization exports are a one-time free preview for visitors who aren't logged in — this is a front-end nudge, not a hard security limit. Create a free account for unlimited use, and to save comparisons to your dashboard.
No — you can shop your renewal with any lender, just like a new purchase. Many homeowners simply accept their existing lender's renewal offer without comparing, which is often the single most expensive form of loyalty in personal finance.
Most lenders let you lock in a renewal rate 90-120 days before your term ends. Starting your comparison a few months early gives you real leverage and time to switch lenders if a better offer comes along.
Usually minimal — unlike breaking a mortgage mid-term, a normal renewal switch typically doesn't trigger a prepayment penalty, though there can be minor administrative or legal fees. Confirm with the new lender before switching.