Mortgage Penalty Calculators

The Canadian government now requires federally regulated mortgage lenders to (among other things that have been in discussion for some time) access to online calculators to estimate the pre-payment penalty on their mortgage.   We’ve summarized the links to access these calculators on our website here.

While this is a great step forward, caution should be taken when using the results provided by the calculators.  Before making any final decisions, our advice to clients is to contact your mortgage lender, and confirm the payment in writing.