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Mortgage Penalty Calculator
Estimate your mortgage break penalty before making a move. Lenders charge the greater of 3-month interest or the Interest Rate Differential (IRD).
$400,000
$50K$1.5M
5.50%
1%10%
6.50%
2%12%
The posted rate on your mortgage statement, not your discounted rate.
36 months
1 month60 months
Big 5 banks typically calculate IRD using posted rates (higher penalties). Monolines use contract rates (lower penalties).
Estimated Penalty
$18,000
Based on IRD method (the higher of the two)
Calculation Methods
3-Month Interest$5,500
Interest Rate Differential$18,000
Penalty Applied$18,000
Important: This is an estimate. Actual penalties vary by lender and contract terms. Contact me for an exact calculation based on your mortgage statement.