Hello,

Need help determining if I should make a switch to Fixed for the rest of my term, factoring in 75 points cut in the coming months. Or should I stay where I am at.

I started with low payments, then had to increase them almost by a 1000, but couldn't increase them beyond, resulted in my amortization period increasing. I'm still 4 months over my 30 year amortization.

Please help me do the math or guide me to a calculator.

Original loan :560,000

Current (variable with fixed payment) 5.55%

TD Mortgage Prime -1.05% as of Sep 18, 2024

Payment Frequency Monthly

Current Term 60 Months

Term Start Date Jun 01, 2022

Term Maturity Date Jun 01, 2027

Amortization 30 Years

Remaining Time Left 30 years, 4 months

Start payment : 2154 Adjusted payment : 3211 (Dec 2022)