Enter a principal amount, an interest rate, and the original loan term. Then, enter either 1) how much you want to pay each month, or 2) how long you want to make mortgage payments. Mortgage Prepayment Calculator How much can I save by prepaying my loan?
When you pay all or part of the mortgage before the term ends, you may need to pay a prepayment charge to the lender. The terms for prepayment charges are defined in the mortgage agreement. Refer to your mortgage documents to find the information you need for this calculator. For details...
Our mortgage calculator reveals your monthly mortgage payment, showing both principal and interest portions. See a complete mortgage amortization schedule, and calculate savings from prepaying your loan.
Please answer the following questions to help us calculate your mortgage prepayment charge. Original amount of your mortgage? How many months are remaining on your current term? What is your current interest rate? If you have a fixed rate mortgage, what discount were you given to get this rate...
Use our mortgage prepayment calculator to see how making additional payments can reduce the time it takes to pay off your mortgage and help you save on interest. Simply enter your loan details, and explore different prepayment options to find the best strategy for you. Try the Calculator Why...
Our calculator can help you calculate your prepayment charge so you can understand the costs of making prepayments or breaking your term early. What is a mortgage or term portion prepayment charge? First, let’s start with the basics: What is a mortgage or term portion prepayment? Essentially ...
Prepayment Penalty Some lenders will charge you a fee which can be between 2% and 4% of your loan amount if you pay off your mortgage in full before its end date. If you don't plan to stay in your house for the full term of the mortgage, be sure there is no prepayment penalty in...
Our mortgage prepayment calculator estimates what your penalty could be if you’re planning on making early mortgage payments.
. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation. If you choose to prepay with a one-time payment for payment number zero, the prepayment is assumed to happen before the first payment of the loan...
Considering breaking your current closed mortgage? Use the mortgage prepayment charge calculator to see if it makes sense. Get started at RBC Royal Bank.