The calculations below (three months' interest and interest rate differential) can be used to estimate the prepayment penalty/charge that would apply if you prepaid the full amount of your mortgage loan. The estimated charge that would apply would typically be whatever amount is greater between the two calculations. You will need to input details about your mortgage loan into this calculator. This information can be found on your mortgage loan documents or by calling your credit union.

Note: This is assuming you have a closed mortgage with a fixed interest rate and have not already used any of the prepayment options/privileges available to you.


Important Information:

The Mortgage Prepayment Penalty calculators above are provided as a guideline only. The actual prepayment penalty or charge may differ from the estimate provided. For purposes of determining what the actual prepayment charge applicable to your mortgage will be, please contact your credit union.

It is important to note that additional fee(s) may be charged when a mortgage is paid in full and discharged for example: discharge fee, registration fees, an assignment fee, etc. For further information, contact your credit union.