Elena Roy
AGENT LICENSE ID 12001012
It's not a big secret
It's not a big secret that the bond yields and fixed mortgage rates have a positive relationship, as bond yields rise, typically so do fixed rates for mortgages.
By following the bond yields, you can predict when mortgage rates can be expected to change and even estimate to where.
When breaking your mortgage contract early, usually because of a refinance or the sale of your home, you will unfortunately have to pay your lender a penalty called a prepayment penalty. The amount you pay will depend on a variety of factors including the day you signed your original mortgage contract, the term of that contract and your existing mortgage balance, rate type and mortgage rate.
One of the biggest drivers of your mortgage penalty is whether you have a variable or fixed mortgage rate. Fixed rate holders pay the greater of interest rate differential or three months interest, while variable rate holders pay just three months interest.
ICICI Bank
Determine how much you will need to set aside in order to achieve your financial goal
How much will your monthly savings accumulate to over a period of time?
How much of a mortgage can you qualify for?
And many more calculators.
RMG mortgage
This calculator will estimate the prepayment charge (the cost to break your mortgage) as of today's date on closed, fixed rate mortgages only.
Note: The prepayment charge will be the greater of 3 months interest penalty or interest for the remainder of the term on the amount prepaid calculated using interest rate differential.
Equitable Bank
We offer a Mortgage Prepayment Charge Calculator that allows you to estimate the prepayment charge that would apply to your mortgage loan as of today's date. You can change the information you enter, such as the prepayment amount, so you can ...
Desjardins
This calculator estimates the prepayment charge you would owe your caisse based on the information you enter. The prepayment charge calculated by your caisse may be to your advantage because they use a calculator that accounts for financial principles that reduce the prepayment charge.
RFA
Use our mortgage prepayment charge calculator to estimate the prepayment charge that would apply to your mortgage loan if you made a full or partial prepayment as of today’s date.The RFA Bank of Canada Mortgage Prepayment Charge Calculator is for demonstration purposes only.
First National
If you are planning to prepay your mortgage before your term’s end or exceed your prepayment privileges, certain penalties may apply. To help you determine those costs, you can get an estimate using the prepayment calculator.
BMO
Use our mortgage prepayment calculator to help estimate your prepayment charge if you're thinking about refinancing, early renewing or making mortgage prepayments when you have a (fixed or variable) closed mortgage or a Homeowner Readiline® (installment).
CIBC
Use our mortgage prepayment calculator to help estimate your prepayment charge if you're thinking about refinancing, early renewing or making mortgage prepayments when you have a (fixed or variable) closed mortgage or a Homeowner Readiline® (installment).
HSBC
Use our mortgage prepayment calculator to help estimate your prepayment charge if you're thinking about refinancing, early renewing or making mortgage prepayments when you have a (fixed or variable) closed mortgage or a Homeowner Readiline® (installment).
LAURENTIAN BANK
Use our mortgage prepayment calculator to help estimate your prepayment charge if you're thinking about refinancing, early renewing or making mortgage prepayments when you have a (fixed or variable) closed mortgage or a Homeowner Readiline® (installment).
MANULIFE BANK
Use our mortgage prepayment calculator to help estimate your prepayment charge if you're thinking about refinancing, early renewing or making mortgage prepayments when you have a (fixed or variable) closed mortgage or a Homeowner Readiline® (installment).
MCAP
Use our mortgage prepayment calculator to help estimate your prepayment charge if you're thinking about refinancing, early renewing or making mortgage prepayments when you have a (fixed or variable) closed mortgage or a Homeowner Readiline® (installment).
NATIONAL BANK
Use our mortgage prepayment calculator to help estimate your prepayment charge if you're thinking about refinancing, early renewing or making mortgage prepayments when you have a (fixed or variable) closed mortgage or a Homeowner Readiline® (installment).
RBC
Use our mortgage prepayment calculator to help estimate your prepayment charge if you're thinking about refinancing, early renewing or making mortgage prepayments when you have a (fixed or variable) closed mortgage or a Homeowner Readiline® (installment).
SCOTIA BANK
Use our mortgage prepayment calculator to help estimate your prepayment charge if you're thinking about refinancing, early renewing or making mortgage prepayments when you have a (fixed or variable) closed mortgage or a Homeowner Readiline® (installment).
TD BANK
Use our mortgage prepayment calculator to help estimate your prepayment charge if you're thinking about refinancing, early renewing or making mortgage prepayments when you have a (fixed or variable) closed mortgage or a Homeowner Readiline® (installment).
CANADIANA
Please choose which of the following applies to your mortgage.
Please note, if you have a Low Rate Advantage mortgage please contact our customer service department for more information on your prepayment penalty.
Prepayment Penalty
Mortgage Prepayment Penalty Calculator
Buying a home is probably the largest and longest-term purchase you will make in your lifetime. But did you know that by making prepayments on your mortgage you can save money in interest costs and reduce the length of time it takes you to pay it off?
If you have questions
If you have questions on how to make your mortgage work for your financial plans, talk to me.
I’m a mortgage expert and I’m committed to providing the best mortgage advice to all my clients.
Talk to me :)
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Elena Roy Tel: (613) 697-7801 |
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Kanata Office
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