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Prepayment Calculator

Calculate the effects of prepaying by completing the boxes below.

1. Mortgage Amount: Info
2. Interest Rate: Info
3. Initial Amortization Period: Years   Months Info
4. Initial Mortgage Payment: Info
5. Payment Frequency:   Accelerated: Info
6. Lump Sum Payment (Annually): Period: Year(s) Info
7. Mortgage Payment Increase (Annually): Period: Year(s) Info

 

RESULTS:
Revised Amortization period Year(s) and Month(s).
This also represents a savings of $ in interest.

Information is provided for sample purposes only. Its accuracy is not guaranteed. Information should be verified and should not be relied upon as legal, financial, or other advice.

Current Mortgage Rates

Term Rate
Prime Rate (P) 2.45%
Closed Variable P – 0.35%
Open Variable P + 3.30%
6 Month Closed 3.25%
1 Year Closed 2.29%
2 Year Closed 2.29%
3 Year Closed 2.29%
4 Year Closed 2.29%
5 Year Closed 2.24%
7 Year Closed 3.14%
10 Year Closed 3.44%
As of June 8, 2020. Rates subject to change without notice, OAC, E&OE