Skip to main content
Top of main content

Mortgage Prepayment Calculator

Get an estimate of how much it could cost you to prepay your mortgage down, in part or in full.

Questions about your mortgage? Email us

This is a estimate only. For an actual prepayment charge cost, book an appointment or call us at 1.888.517.7000.

Connect with us

  • The prepayment charge quoted is valid for today ONLY and is NOT an official mortgage payout statement. The prepayment charge may vary based on interest rates changes and the time left remaining in the mortgage term.
  • This calculator is not applicable to open-term mortgages or mortgages that were issued prior to November 1st, 2018.
  • This calculation does not take into account any prepayments you have made or plan to make.
  • Any annual prepayment privilege exercised within 30 days of full payout will be added back for the purposes of calculating the penalty.
  • If paying your mortgage in full you may also be subject to a $75 discharge fee.
  • For variable rate mortgages the prepayment charge calculation is based on 90 days interest based on the interest rate on the day of prepayment.
  • For fixed rate mortgages the prepayment charge is the higher of 90 days interest calculated at the applicable fixed interest rate at the time of prepayment, or an amount calculated using interest rate differential (IRD). If the term is greater than five years, and you prepay after the fifth year of the term, the prepayment charge is equal to 90 days interest. The interest rate differential is the difference between your existing mortgage interest rate.