Mortgage calculators
Pick what’s on your mind and the calculator that answers it opens below. Every one is free, needs no sign-up, and runs in your browser, so nothing you enter is sent to us.
What’s on your mind?
Is breaking my mortgage worth it?
Estimates the penalty both ways and compares breaking with staying to the end of your term.
Mode
Enter just the essentials. We'll fill in the rest.
Your current mortgage
Using a posted rate of 6.05% for the 3.0 years you have left, less a discount of 1.84 points worked out from your start date and rate. Posted rates are the big-bank average published by the Bank of Canada, 2026-09-23; your own bank’s may differ.
Minimum savings threshold
Only flag breaking as worthwhile if savings exceed this. Breaking involves legal fees and paperwork, so small savings may not be worth the effort.
Your break analysis
Technically yes — but below your savings threshold
Savings of $14,031 — below your $15,000 threshold
Breaking now would save about $14,031, which is less than the $15,000 you said would make it worth the effort. After legal fees and paperwork it may not be worth your time.
What to consider
Your payment drops by roughly $398 per payment.
Over the comparison window you pay $14,338 less, but owe $307 more at the end.
Estimated break penalty
IRD $9,291 vs 3-month interest $6,745 — IRD applied
IRD measured against 4.21%: posted rate less your original discount, the bank method
Measured the other way the IRD would be $14,798. Lenders differ, and only a payout statement settles it.
$9,291
If you stay
If you break
Balance detail at break date
Penalty uses the Canadian semi-annual compounding standard. Actual lender penalties vary by contract and only your lender can give you a real payout figure.
For informational purposes only — consult a licensed mortgage professional before deciding.
Every calculator
Your mortgage today
- Break penaltyIs breaking my mortgage worth it?
- Blend and extendShould I blend, break, or wait?
- Penalty by lenderHow does my lender work out its penalty?
- RenewalWhat will my payment be at renewal?
- Variable rate checkIs my variable mortgage behind schedule?
- PrepaymentHow much sooner could I be mortgage-free?
Borrowing against your home
Rather not come back and re-run these every few months?
The monthly mortgage check-up runs the same numbers for you: renewal, breaking, equity and, for variable rates, whether your payment is keeping up. One email a month, and you can stop it from any message.