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Canadian mortgage calculator

Fixed versus variable mortgage calculator

Compare user-defined fixed and variable rate paths without pretending to predict interest rates.

Private inputs · Transparent assumptions

Your decision ledger

Fixed vs variable

Change the assumptions below. Your inputs and results remain in this browser and are not sent to RateReset.

  1. 01Facts
  2. 02Change
  3. 03Compare

Positive means rates rise; negative means rates fall.

Enter your values to see results.

How to use this result

Start with the decision, then inspect the assumptions.

Fixed and variable mortgage comparisons depend on the path of rates, not just today’s starting difference. Enter a variable-rate change assumption to model a scenario. It is not a forecast.

How the calculation works

Both paths start with the same balance, amortization, frequency, and term. The simplified variable path uses the starting rate plus the user-defined change; each result shows term interest and remaining principal.

For the full notation, rate conversion, rounding approach, and limitations, see the calculation methodology.

Worked Canadian example

Put the estimate in context

A borrower comparing 4.79% fixed with 4.25% variable can model the variable rate rising by one percentage point. The result shows whether the lower starting rate still produces lower term interest under that defined scenario.

Before relying on it

Common mistakes

  1. 01Assuming the variable-rate path is a prediction.
  2. 02Ignoring whether the variable payment changes or only its principal-interest mix changes.
  3. 03Leaving prepayment flexibility and penalties out of the decision.
  4. 04Comparing products with different fees or features as though rate were the only difference.

Clear answers

Frequently asked questions

Does RateReset predict rates?

No. You define the change to test. The result is a scenario, not a market forecast.

Which option is better?

That depends on rate outcomes, contract terms, budget tolerance, flexibility, and personal priorities. The calculator does not recommend a product.

Continue comparing

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Mortgage paymentCalculate a Canadian mortgage payment, term interest, principal repaid, and an optional monthly ownership budget.Mortgage renewalEstimate your payment after renewal and compare a longer amortization, a lump sum, and your current remaining schedule.Mortgage penaltyCompare an approximate three-month-interest charge with an interest rate differential.

Official references

Sources used

Full source registry

Estimates are for educational purposes and may differ from lender calculations, contractual terms, taxes, fees, or regulatory requirements. Read the full disclaimer.

Last reviewed July 26, 2026. Content is marked for financial and compliance editorial review before material policy changes are published.