Blend-and-extend calculator
Estimate the blended rate, then see if it beats breaking or waiting.
Estimated blended rate4.99%5.39% for 30 months + 4.58% for 30 months, weighted by time
Cost over 5 years
Stay until renewal5.39%$97,081
Lowest costBreak and refinance now4.58% · penalty $5,660$96,233
Blend and extend4.99%$96,891
| Measure | Stay until renewal | Break and refinance now | Blend and extend |
|---|---|---|---|
| Cost | $97,081 | $96,233 | $96,891 |
| First monthly payment | $2,705 | $2,518 | $2,611 |
Ask how they got the rateFCAC: blend-and-extend avoids the prepayment penalty, and your lender must tell you how it calculates the new rate. If the quote is well above the estimate, the penalty may be built into the rate.
Estimate, not advice. Educational estimate only, not financial, mortgage, tax or legal advice. Lenders, insurers and governments set their own rules and can change them; confirm with a licensed professional before you decide.
Estimated blended rate 4.99%. Over 5 years: stay $97,081, break $96,233, blend $96,891.
Assumptions & sources
Assumptions
- Blended rate = (your rate × months left + today's rate × extra months) ÷ new term in months. Lenders may use their posted rates or other methods.
- Refinance fees $2,000 (our estimates) and an estimated penalty unless you enter a quote.
Sources
- Financial Consumer Agency of Canada — Breaking your mortgage contract (fees, cash-back clawback, blend-and-extend) (effective October 15, 2025). Checked .
- Financial Consumer Agency of Canada — Reduce mortgage prepayment penalties (3 months' interest or the IRD; posted-rate method; prepayment privileges; porting) (effective October 15, 2025). Checked .
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