Mortgage penalty calculator

What's your break penalty?

Estimate the cost of breaking your mortgage early - the greater of three months' interest or the interest rate differential (IRD).

Mortgage balance

Your current rate (%)

Mortgage type

Months left in term

Lender's comparison rate (%)

The posted rate for your remaining term - used for the IRD

Estimated penalty

$9,450

Based on IRD

3 months' interest$5,502

Interest rate differential (IRD)$9,450

You'd pay the greater$9,450

A simplified estimate. Fixed mortgages charge the greater of 3 months' interest or the IRD; variable mortgages usually charge 3 months' interest. Lenders calculate the IRD differently (some use posted rates), so your actual penalty may vary - always confirm with your lender.