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.
- Alberta Treasury Branches
- Affinity Credit Union
- Alterna Savings
- Assiniboine Credit Union (No calculator. Call 1.877.958.8588)
- B2B Bank
- BMO
- Canadiana Financial Corp.
- Canadian Western Bank
- CIBC
- Conexus Credit Union
- Desjardins
- Equitable Bank
- Envision Credit Union (No calculator. Contact your branch)
- First Calgary Financial (No calculator. Call 1.866.923.4778)
- Firstline Mortgages
- First National
- Home Trust (No calculator. Call 1.877.903.2133)
- HSBC
- ICICI Bank
- Industrial Alliance (No calculator. See this.)
- Investors Group
- Laurentian Bank
- London Life
- Manulife
- MCAP
- Meridian Credit Union (No calculator. Call 1.866.592.2226 )
- Merix
- motusbank
- National Bank
- Radius Financial
- RBC
- RMG Mortgages (No calculator. Call 1.866.809.5800)
- Scotiabank
- Servus Credit Union (No calculator. See this.)
- Steinbach Credit Union (No calculator. Call 1.800.728.6440)
- Tangerine
- TD
- Vancity (No calculator. Call 1.888.826.2489)
- XMC (No calculator. Email here)
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.