IRD or 3-Month
Estimates both penalty methods lenders use.
Penalty Calculator
Estimate Your Mortgage Penalty
Thinking of breaking your mortgage? Estimate your prepayment penalty (IRD or three months' interest) before you decide.
Mortgage Penalty Calculator
Loading the mortgage penalty calculator.
Why use it
What This Calculator Gives You
Break-Even Check
Weigh the penalty against your rate savings.
Decide With Data
Know the cost before you talk to your lender.
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Frequently Asked Questions
Are these mortgage calculators free?
Yes, every calculator is completely free to use and requires no signup.
How accurate are the results?
They're solid estimates for planning. A licensed advisor confirms the exact numbers for your specific situation and lender.
Do you store my information?
You can use every calculator without submitting anything. If you choose to have results emailed, we only use that to help you.
Can you help me get the rate I calculated?
Yes. We compare 30+ lenders to find you a real rate, at no cost. Talk to a licensed advisor any time.
Official mortgage brokering partner
Ready to Act on Your Numbers?
These calculators are powered by Cannect Inc., a fully licensed Canadian mortgage brokerage and our official brokering partner, with over $7 billion funded and a 4.9-star Google rating. When you're ready to turn an estimate into a real rate, Cannect compares 30+ lenders for you, with transparent advice and no cost to compare.
Licensed & regulated brokerageAccess to 30+ lendersNo cost to compare your options