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Penalty Calculator

Prepayment Penalty Calculator

Please choose which of the following mortgage types applies to your mortgage:

Adjustable/Variable Rate   or   Fixed Rate   or   Home Equity Line of Credit

Is your mortgage a low feature mortgage?


Information about the calculator

Use the prepayment calculator to see how changes can impact your prepayment charges.

If you are making a partial prepayment, only include the amount that exceeds your prepayment privilege.

This calculator makes certain assumptions and is for estimates only. It will provide you with an approximate value to assist you in making decisions regarding your mortgage. To obtain an exact payout figure, please contact us directly.

Is your mortgage a low feature mortgage?


Information about the calculator

Use the prepayment calculator to see how changes can impact your prepayment charges.

Payment timing, payment amount and interest rate changes can have a big impact on your Interest Rate Differential amount calculation.

If you are making a partial prepayment, only include the amount that exceeds your prepayment privilege.

This calculator makes certain assumptions and is for estimates only. It will provide you with an approximate value to assist you in making decisions regarding your mortgage. To obtain an exact payout figure, please contact us directly.

(a) where your HELOC has no Locked In Portion, an administration fee of 1.5% calculated on the Credit Limit and prorated over the remaining term. We calculate the administration fee as follows:
  • Credit Limit x 0.025% x number of remaining months in the Term

(b) where you have one or more Locked In Portions, the greater of:

  • (i) the administration fee calculated as stated in (a) above; or
  • (ii) the sum of the applicable prepayment charge(s) for the Locked In Portion(s). You will need to calculate the penalty for each Locked in portion using the calculators below. (Fixed or Variable)

Home Equity Line of Credit

3 Months Interest

Interest Rate Differential

Posted Rates:

6 Month Open 6.99%
1 Year Fixed 2.29%
2 Year Fixed 2.04%
3 Year Fixed 2.04%
4 Year Fixed 2.04%
5 Year Fixed 2.19%
5 Year ARM P*+0.45

*Prime Rate: 2.45%


Information about the calculator

If you are making a partial prepayment, only include the amount that exceeds your prepayment privilege.

This calculator makes certain assumptions and is for estimates only. It will provide you with an approximate value to assist you in making decisions regarding your mortgage. To obtain an exact payout figure, please contact us directly.

Payment timing, payment amount and interest rate changes can have a big impact on your Interest Rate Differential amount calculation. Use the prepayment calculator to see how changes can impact your prepayment charges.