Mortgage penalty by lender
The biggest difference between two penalties on the same mortgage is usually the lender. Most banks measure a fixed-rate penalty against their posted rates less the discount you were given, while many other lenders measure it against the rates they offer today. Pick your lender to see how it describes its prepayment charge and to estimate yours.
MortgageSkip is independent and is not affiliated with any lender listed here. Details are summarised from each lender’s own published information, last reviewed September 28, 2026. Your mortgage contract governs.
Posted rate less discount
These lenders describe an interest rate differential based on a posted rate, adjusted for the discount you received.
Current offered rates
These lenders describe an interest rate differential based on the rates they currently offer.
Lender not listed?
The mortgage break penalty calculator works for any lender. It asks which kind of lender you are with and shows the penalty measured both ways, so you can see how much the method matters. The only authoritative figure is a payout statement from your lender.