Free Tool
Mortgage Penalty Calculator
Thinking about breaking your mortgage early? See roughly what it could cost first.
Your current mortgage
Your contract rate5.5%
Lender's comparison rate for remaining term4.8%
Fixed-rate mortgages typically charge the greater of 3 months' interest or an interest rate differential (IRD). This is a simplified estimate — actual lender IRD formulas vary and are often higher than this simplified version. Variable-rate mortgages usually charge a flat 3-month interest penalty instead. Always request an exact payout quote from your lender.