Calculate prepayment charges
Understanding charges that could apply to you
If you choose to exceed your prepayment privileges during your mortgage anniversary year or decide to pay off your mortgage before your term ends, you may encounter certain penalties. It is important to familiarize yourself with the ways that these
charges can be calculated. The helpful worksheet below can give you better insight into possible prepayment charges. Having your mortgage commitment, mortgage renewal agreement or annual mortgage
statement handy will help you fill in much of the information required.