Prepayment Analyzer

See how a lump-sum prepayment and extra monthly payments cut your interest cost and shorten your amortization.

Fields marked * are required for an accurate result.

Current mortgage balance*

CAD

Interest rate*

Amortization left*

years

Lump-sum prepayment*

CAD

Applied in year*

Extra monthly payment*

CAD

Optional — enter 0 if none

Most lenders allow annual lump-sum prepayments of 10–20% of the original balance plus a payment increase of 10–20% without penalty. Exceeding your privileges triggers a prepayment charge — check your mortgage commitment or ask your broker.

INTEREST SAVED

$45,578

Amortization shortened by1y 10m

Paid off in23.2 years

Interest without prepayment$371,554

Interest with prepayment$325,976

Regular monthly payment$2,905.18

Results are estimates for illustration only and are not an approval or an offer of credit. Calculations use Canadian mortgage conventions (interest compounded semi-annually, not in advance), current CMHC default insurance premium bands, and the OSFI minimum qualifying rate. Actual figures depend on lender policy, property details and credit review. Lijo Abraham — Mortgage Agent Level 1, Pegasus Mortgages (FSRA licensed).