Your mortgage renewal is coming. See your new number.
Canada · 170 pages · by JP O'Connor
Renewal Shock.
The Canadian Mortgage Handbook
Switch lenders without re-qualifying, cut your prepayment penalty, beat a higher payment and clear credit card debt.
The rule that kept you with your lender changed in 2024. Nobody told you.
- Uninsured straight switches no longer face the stress test (since November 21, 2024)
- Why the posted rate you never paid drives your prepayment penalty
- Your trigger rate: how to find it and what happens when you reach it
- Prepayment room that's gone on the reset date if you don't use it
The 10 free calculators from the book
Each one matches a chapter. Put in your own numbers and get your answer straight away.
Nothing you type here leaves your phone. We don't store it and we can't see it.
- CA1Your renewal numberWhat your payment becomes at renewal
- CA2Stay or switchIs the rate elsewhere worth the move?
- CA3What breaking early costsThree months' interest against the IRD
- CA4The posted rate penalty gapThe rate nobody pays sets your penalty
- CA5Fixed or variableSide by side, under a few scenarios
- CA6Your trigger rateWhen the payment stops touching the loan
- CA7What a longer amortization costsBreathing room, and its price
- CA8The minimum payment trapWhat the smallest debt really costs
- CA9Which debt to clear firstAvalanche against snowball
- CA10Your 90-day planEvery date, worked back from renewal
Who wrote it
JP O'Connor is a Gold Coast property owner, SMSF trustee and body corporate chairperson. He is not a financial adviser, broker, accountant or lawyer, and the book never pretends otherwise. It explains how the rules work, shows the math with worked examples, and names exactly who to take it to.