Mortgage Penalty Calculators

October 29, 2020

What follows is a list of mortgage prepayment charge (penalty) calculators. You can use them to estimate your penalty at Canada’s top lenders.

If your lender isn’t listed, call its customer service line and ask if it has an online prepayment charge estimator. If not, ask it to quote you a penalty assuming you request discharge of your mortgage today.

Important note: Lenders provide estimates only. Your final penalty will be calculated when you (or your lawyer, new lender or closing agent) request a “payout statement” from your existing lender. The penalty at that time may change from initial estimates if interest rates move, if your lender’s “comparison rate” changes, and so on.