Note: The prepayment charge will be the greater of 3 months interest penalty or interest for the remainder of the term on the amount prepaid calculated using interest rate differential.
You may need to have your mortgage documentation on hand to answer some of the questions.
The tool estimates the prepayment charge (the cost to break your mortgage) as of today’s date on closed, fixed rate mortgages only.
At payout, a discharge fee will also be applied. A reinvestment fee may also be applicable.