Prepayment Calculator | Mortgage Momentum

Your mortgage today

Enter where your mortgage stands right now.

Mortgage balance

Interest rate

Years remaining

How you pay now

What would you change?

Try one change, or stack them all together, and see the difference instantly.

Every lender's prepayment privileges are different, check your mortgage agreement. As a rule of thumb, lenders let you make a lump-sum payment of up to 10–20% of your balance each year, raise your regular payment by 10–20%, and some even let you double up a payment. Going over your limit can trigger a charge, so it's worth confirming your exact privileges. I'm happy to check them for you.

Switch to accelerated payments Accelerated payments slip in the equivalent of one extra monthly payment a year, a small change that pays off big.

Increase each payment

Yearly lump sum (once a year)

One-time lump today (right now)

The payoff

For illustration only, not an approval or offer of credit. Canadian semi-annual compounding. Assumes your rate holds for the whole amortization and the change continues as entered; actual privileges, rates, and terms vary by lender. Prepayments above your annual privilege limit may trigger a charge.

Email me these numbers

Send yourself this plan, a clean summary of how much sooner you'd be mortgage-free and what you'd save.

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Set up your prepayment plan

Want to put this into action, or make sure your mortgage even allows it? Let's map out the fastest route to mortgage-free for your situation.

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See if tapping your equity or a better rate makes sense with the Refinance Calculator

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