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Calculator · For Homeowners & Buyers

Renewal and prepayment penalty estimate

Get a rough sense of what breaking your mortgage early might cost. Then talk to us before you make a move.

Your numbers

A rough estimate of a prepayment penalty.

The lender's current rate for a term matching the time left.
Estimated penalty
$0
Three-month interest$0
IRD estimate$0
Which is greaterThree-month interest
Lenders often calculate IRD using posted rates, so the real penalty can be significantly higher than this estimate. This is the single biggest reason to talk to us before breaking a mortgage.
See if breaking your mortgage actually pays off

For illustration only and not an offer of financing or a rate quote. This is a rough estimate only. Lenders calculate the interest rate differential very differently (using posted versus discounted rates and different formulas), and fixed and variable mortgages differ in how penalties are figured. Confirm your exact penalty with your lender, and talk to us before breaking a mortgage. Speak with us for figures specific to you. TMG HarbourTown Mortgage Inc., Licence #3000145.

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