Mortgage Prepayment Penalty Calculator
This form estimates the penalty you’ll be charged if you pay off the balance of your mortgage. It’ll produce two separate calculations: Three-month interest and Interest rate differential. Generally, you’ll be charged the larger of these two calculations.
The form’s calculations are made with the assumption that you have a closed mortgage with a fixed interest rate, and that you haven’t already used other prepayment options or privileges.
The calculator should be use as a guideline only. The actual prepayment penalty or charge may differ from the estimate provided. There may be additional fees involved to discharge your mortgage. Before making any prepayments, please call our Contact Centre at 1.866.863.6237.