Penalty Calculator | GradeMyMortgage.ca

📋 Mortgage Details

Lender *

Rate Type

Current Balance *

Contract Rate *

Original Term

Funding Date

Maturity Date

Remaining Amortization

yrs

Original Discount

GoC Bond Yield (for Equitable)

Equitable uses GoC bond yields as the comparison rate. Check Bank of Canada for current yields.

💰 Penalty Analysis

Estimated Penalty Today

Calculated using IRD

Penalty Breakdown

Interest Rate Differential

Balance × Rate Diff × Years

Percent of Balance

Balance × X%

3 Months Interest

Balance × Rate × 0.25

Smart Insights

Penalty Over Time

IRD Penalty

3-Month Interest

Penalty Timeline Based on today's rates

Discount estimated from lender defaults. Projections based on today's posted rates.

Refinance Analysis

New Rate

4.50%

Current Payment

New Payment

Break-Even
—

Lender Intelligence

Type

—

Penalty Method

—

Prepayment

—

Discount

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Personalized penalty estimate with refinance savings analysis.