Tools
Mortgage Penalty Calculator
Breaking a mortgage early usually triggers a penalty. Variable-rate mortgages are typically three months' interest; fixed-rate mortgages are the greater of three months' interest or the interest rate differential (IRD).
Mortgage type
Estimated penalty
$13,300.00
An estimate only. Every lender calculates penalties differently — always confirm with your lender.
- Three months' interest
- $5,500.50
- Interest rate differential
- $13,300.00
Thinking about breaking your mortgage?
Sometimes the savings outweigh the penalty — and sometimes they don't. Let's run your actual numbers first.