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.

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Current Mortgage Rates

Term Rate
Prime Rate (P) 7.20%
Closed Variable P – 0.90%
Open Variable P + 3.2%
6 Month Closed 7.29%
1 Year Closed 7.24%
2 Year Closed 6.84%
3 Year Closed 6.19%
4 Year Closed 5.74%
5 Year Closed 5.59%
7 Year Closed 5.95%
10 Year Closed 6.29%
As of August 26, 2023. Rates subject to change without notice, OAC, E&OE
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