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Compare your current payment with the new one, add the penalty and fees, and see how many months of savings it takes to recover them.

The thresholds used (GDS and TDS ratios, qualifying rate, CMHC premiums, 9% tax) come from the sources below and are updated when the rules change.
These results are estimates for planning purposes only. They are not a mortgage approval, financing offer or financial advice. A lender or insurer may apply different criteria.
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Buying, renewing, refinancing or an unusual situation: describe where you are at, even if it is still vague. Mathieu replies with the next steps and the documents to gather.