Mortgage Prepayment Calculator

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Notice: Please be advised that due to ongoing labour disruptions at Canada Post, there may be delays in mail delivery. As a result, this may impact our ability to process and deliver certain services.
If you are affected and need to discuss alternative methods to serve you better, please click here to contact us.
Please note that call wait times may be longer than usual. We appreciate your patience and understanding.
Attention: Notez qu’en raison d’une interruption de travail à Postes Canada, il pourrait y avoir des retards dans la livraison du courrier. Par conséquent, cela peut avoir une incidence sur notre capacité à traiter certaines transactions et à fournir certains services.
Veuillez cliquer ici pour communiquer avec nous si cette situation vous affecte ou si vous voulez discuter d’autres façons de mieux vous servir.
Prenez note que les temps d’attentes pourraient être plus longs que d’habitude. Nous vous remercions de votre patience et de votre compréhension.

Instructions for calculating your prepayment

Enter information about your mortgage into the calculator to get an estimate of the current prepayment charge.

  • $
  • %
  • i
    %
  • Remaining months, excluding the current month
    Term used to determine the posted rate
  • 6-17
    1 year closed fixed rate
  • 18-29
    2 year fixed rate
  • 30-41
    3 year fixed rate
  • 42-53
    4 year fixed rate
  • 54-59
    5 year closed fixed rate

YOUR PREPAYMENT SUMMARY

Penalty Amount*: {{ penalty }} Penalty Amount*: {{ penaltyFR }}
*If you have repayment penalties, please contact customer services at [email protected].

This calculator is for information purposes only and is intended to be used as an estimate. It is not investment advice, and we cannot guarantee its accuracy. All outcomes from the use of calculator should be considered hypothetical. If you would like us to provide the exact amount of your prepayment or require further information, please call us at 1-877-462-3788 or email [email protected].

Terms and Conditions

Fixed Interest Rate Mortgages – If you have a fixed interest rate on your mortgage and a term of 5 years or less, payment of a prepayment charge equal to the greater of the interest rate differential (IRD) or 3 months interest calculated on the outstanding loan amount;

Adjustable Interest Rate Mortgages – if you have an adjustable rate on your mortgage, payment of a prepayment charge equal to 3 months interest calculated on the outstanding loan amount.