SWITCH OR TRANSFER

Considering a new mortgage lender?

Compare mortgage transfer options at renewal, including rates, terms, prepayment features, switching costs, and any incentives that may be available.

Rates are current as of Canada
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Compare transfer rates before staying with your current lender

A mortgage switch or transfer can help you move to a new lender at renewal without taking on new borrowing. Use RateBuddy to compare transfer rates, estimated payments, interest costs, lender options, switch promotions, and potential savings before signing your next term.

Compare Mortgage Switch and Transfer Rates

Live as of: August 17, 2026 | Canada

Customize your mortgage scenario

Adjust the purchase price, down payment, amortization, and payment frequency to see how your estimated mortgage payments change across the rate options below.

$
$
%
Yrs
Tip: Use the filter to compare payment impact quickly. Even a small rate difference can change your estimated payment and total interest over time.
We guarantee your best rate or we will give you $500! Save thousands with our volume-discounted rates.
True North Mortgage Inc
Interest rate
2.49 %
6 Months Fixed
6-Month Fixed Closed
Payment & interest estimate
Est. Monthly Payment $1,277
Interest in 5 years $32,860
Interest over 6 Months $3,527
Rate Guarantee: We guarantee your rate is in the best 1% of all rates in Canada. Find a lower rate and we will beat it or pay you $500 cash.
Butler Mortgage
Interest rate
3.30 %
5 Years Variable
5 Year Variable Mortgage
Payment & interest estimate
Est. Monthly Payment $1,396
Interest in 5 years $43,878
Commission-free mortgage experts providing honest advice and competitive rates through a 100% digital, transparent process.
Nesto
Interest rate
3.40 %
5 Years Variable
5 Year Variable Mortgage
Payment & interest estimate
Est. Monthly Payment $1,412
Interest in 5 years $45,248
We guarantee your best rate or we will give you $500! Save thousands with our volume-discounted rates.
True North Mortgage Inc
Interest rate
3.49 %
5 Years Variable
5-Year Variable Closed
Payment & interest estimate
Est. Monthly Payment $1,425
Interest in 5 years $46,483
nesto provides you with the best available locking period in the mortgage industry (150 Days).
Nesto
Interest rate
3.57 %
5 Years Variable
5 Year Variable Mortgage (150 Day Lock)
Payment & interest estimate
Est. Monthly Payment $1,437
Interest in 5 years $47,581
Secure your rate for up to 120 days. Take advantage of generous 20/20 prepayment privileges and the flexibility to skip a payment once a year.
Meridian Credit Union
Interest rate
3.59 %
5 Years Variable
5 Year Variable Mortgage
Payment & interest estimate
Est. Monthly Payment $1,441
Interest in 5 years $47,856
Equitable Bank offers flexible mortgage solutions with competitive rates, designed to help you achieve your homeownership goals.
EQ Bank
Interest rate
3.60 %
5 Years Variable
5 Year Adjustable Mortgage - Evolution Suite
Payment & interest estimate
Est. Monthly Payment $1,442
Interest in 5 years $47,994
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Mortgage rates across Canada

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Find national mortgage offers and rates available in your province, then explore a page designed for your local market.

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Rates by lender

Compare mortgage rates by provider

Explore mortgage rate information from major Canadian banks, regional institutions and credit unions. Compare more than the advertised rate before choosing a provider.

Will Refinancing Save You Money?

Enter your current mortgage details and a potential new rate to see how much you could save on your monthly payments and over the next five years.

Your Scenario
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Years
%
%
Potential Monthly Savings
$0
Enter your details to see the savings.

Does Refinancing Make Sense for You?

Our decision-making toolkit helps you see the numbers clearly. Answer these key questions to find out if refinancing is the right move.

Calculate Your Savings

Compare your current payment to a new one and see your potential monthly savings.

Calculate Savings
Estimate Your Penalty

Estimate the cost of breaking your current mortgage to see if refinancing is worth it.

Estimate Penalty
Find Your Break-Even Point

Find out how many months it will take for your savings to cover the refinancing costs.

Find Break-Even
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Pro Tip: Is Refinancing Worth It?

Ask these three questions before you break your mortgage.

  • What is the penalty to break my current mortgage? This is your primary cost. Use our Penalty Estimator to get a clear idea of this number.
  • How much will I save with the new, lower rate? Calculate your potential monthly and long-term savings with our Refinance Savings Calculator.
  • What is my "break-even" point? This is the most important question. How many months will it take for your monthly savings to completely pay off the penalty and other closing costs? If you plan to stay in your home longer than the break-even point, refinancing is likely a smart move.
Find your mortgage path

Explore mortgage options based on what matters to you

Compare rates by structure, mortgage goal, term and market scenario without navigating through an oversized menu.

Tools and guidance

Plan your next mortgage decision

Estimate payments, test affordability, understand mortgage costs and explore practical guidance before taking your next step.

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How to compare mortgage switch and transfer rates in Canada

A mortgage switch or transfer usually happens when your current mortgage term is ending and you move the mortgage balance to a new lender. Unlike a full refinance, a switch often focuses on getting a better rate or lender offer without increasing the mortgage amount.

What to compare before switching lenders

Compare the transfer rate, estimated payment, term length, fixed or variable structure, prepayment options, portability, discharge or legal costs, and whether the new lender offers a switch promotion. Some lenders may cover eligible transfer costs, but conditions can apply.

Who mortgage transfer rates may suit

Mortgage switch rates may suit homeowners approaching renewal who want to compare their current lender’s offer against other lenders. Use the filters above and the savings tools on this page to test payment scenarios before deciding whether to stay or switch.

Advanced mortgage tools

Explore more ways to plan your mortgage

Compare borrowing strategies, test qualification scenarios and understand the longer-term financial impact of your mortgage decisions.

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Your Refinance Decision Hub

Get clear, professional answers to the most important questions about refinancing your mortgage in Canada.

Refinancing is the process of replacing your current mortgage with a completely new one. This new mortgage pays off your old loan, leaving you with a single, updated mortgage. Homeowners do this for several strategic reasons, most often to secure a better interest rate or to access the equity they've built in their home.

What is Refinancing? illustration
There are three primary benefits:
  • Secure a Lower Rate: Lower your monthly payments and save thousands in interest.
  • Access Home Equity: A cash-out refinance provides funds for renovations, investments, or education.
  • Consolidate Debt: Roll high-interest debt into your new mortgage for a single, lower-interest payment.
Top Reasons to Refinance illustration

The ideal time to refinance is when the financial benefit outweighs the costs. You need to calculate if the savings from a new, lower interest rate will be greater than the prepayment penalty for breaking your current mortgage term early. Our calculators can help you determine your break-even point.

When is the Best Time? illustration

A renewal happens at the end of your term, allowing you to sign a new term with your existing lender, often without re-qualifying. A refinance breaks your current term to create a new mortgage, which can be with any lender. Refinancing is necessary to change your loan amount (like a cash-out) but often involves a penalty.

Refinance vs. Renewal illustration

The main cost is the prepayment penalty from your current lender. Additionally, there are other closing costs to consider, which can include legal fees, appraisal fees, and potentially a title insurance fee. It's crucial to factor all these costs into your calculation.

What are the Costs? illustration

Could a lower payment be just a few clicks away?

Whether you want to lower your monthly payment, access equity, or consolidate debt, our simple wizard helps you compare personalized offers in minutes. No commitment, just clarity.

See Your Refinance Options