Mortgage Penalty Calculator
Estimate how much you’ll pay in penalties for breaking your mortgage early.
Frequently Asked Questions
Why do mortgage penalties exist?
Lenders charge penalties to recover interest lost when a borrower breaks a fixed-term mortgage early.
How is the penalty calculated?
This calculator estimates penalties based on the remaining balance, interest rate, and number of months left in the term.
Is this an exact amount?
No, it's an estimate. Your actual penalty may include administrative fees or be calculated differently depending on your lender’s policy.
When should I consider breaking a mortgage?
If interest rates drop or you plan to move or refinance, breaking a mortgage might save money in the long term—if penalties are manageable.
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