Estimate common prepayment penalties (3 months’ interest and IRD) when breaking a mortgage early.
This is an estimate. Lender penalty methods vary. Confirm with your lender before making decisions.
Estimated penalty
Component breakdown
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How this estimate works
Related guides
- How mortgage penalties are calculated in CanadaA practical walkthrough of common prepayment penalty methods used by Canadian lenders.
- IRD vs. three months’ interest: what’s the difference?Understand how IRD differs from three months’ interest and why fixed terms can create larger penalties.
- When it might make sense to break your mortgage earlyA practical framework for weighing penalty cost against refinancing, sale, or payment reduction benefits.
Results are estimates for informational purposes only.