Mortgage Penalty Estimator
Estimate what it will cost to break your fixed or variable rate mortgage early.
Lender's current posted rate for your remaining term
Estimated penalty
$16,200
Interest rate differential (IRD) — larger than 3 months interest
Estimate only. Each Canadian lender calculates IRD differently — some use the posted rate (which can produce much higher penalties than this simplified formula). Always get an official payout quote from your lender before breaking your mortgage.
The information presented on HousingPortal.ca is intended for general illustrative purposes only. While the information is believed to be reliable, it cannot be guaranteed for accuracy, completeness, or currency. Neither HousingPortal.ca and its employees, nor any other party identified in this guide/report, assumes any liability for the information provided. The views and opinions expressed by the analysts at HousingPortal.ca are their own and should not be considered as investment advice. It is recommended that you seek the advice of a licensed real estate professional before making any decisions regarding real estate investments.