CWB mortgage prepayment calculator

 

CWB® Mortgage Prepayment Calculator
Mortgage type:
The original amount is financed through your mortgage. This differs from the remaining balance owing on the mortgage (see Mortgage amount outstanding below). See the "Principal amount" field on your Statement of disclosure for the value to input in this field.
$
The remaining balance, or principal, to be paid on your mortgage as of today's date. See the "Principal amount as at [the current year]" field on your annual statement for an approximate value for this field.
$
Have you made any payments within your prepayment privilege this year?
The dollar value of your prepayment privilege used this year. For both fixed and variable rate mortgages, your yearly prepayment privilege include: a lump sum payment of 20% of the original mortgage amount.
$
The date you anticipate paying down the full value of your mortgage.
The date your existing mortgage expires. E.g. You are approved for a 5-year fixed rate mortgage on September 1, 2025; your mortgage maturity date is September 1, 2030.
Regular term like your remaining term indicated above.
Your annual interest rate. The interest is not calculated in advance, using the semi-annual calculation method.
%
This is the difference between the rate you received and the posted rate on the date your mortgage was funded. See the "Rate discount received" field in your Statement of disclosure renewal notification.
%
The percentage added to or removed from the prime rate on the date your mortgage was funded. See the Determination of interest section in your statement of disclosure renewal notification. For a rate reduction, the mathematical symbol (-) must be indexed with the number.
%
Indicate the current National Bank posted rate applicable for the similar remaining term. This posted rate is available on our website at www.nbc.ca in the "Mortgage" section.
%
Indicate the current National Bank Prime rate available on our website at www.nbc.ca in the "Mortgage" section.
%
Your Results
Intermediate calculations
Based on the number of days remaining in term, the closest posted rate is 0.00% for a 0-year term
Three month Charge:
$ 0.00
Interest rate differential:
$ 0.00
The difference between your mortgage rate and the current rate for a mortgage that most closely resembles the remainder of your term (inclusive of any rate discount or premium on your mortgage), multiplied by the mortgage amount outstanding for the remaining time left on your mortgage up to the mortgage maturity date. See the "Prepayment Charges" field on your Statement of Disclosure for more information.
Results
For a fixed rate mortgage, you must pay the greater of the three-month penalty or the interest rate differential.
Prepayment Charge for your mortgage:
$ 0.00
An error occurred.
The data generated from this tool are for estimation purposes only. They do not in any way constitute a legal or contractual obligation to National Bank. Financing approval remains subject to credit approval by National Bank. Certain conditions apply.
Your Results
For a variable rate mortgage, you must pay the three month penalty.
Prepayment Charge for your mortgage:
$ 0.00
An error occurred.
The data generated from this tool are for estimation purposes only. They do not in any way constitute a legal or contractual obligation to National Bank. Financing approval remains subject to credit approval by National Bank. Certain conditions apply.

Little details that matter

This tool allows you to obtain an estimate of the amount of the charges payable following a prepayment of your mortgage loan. The data generated is an approximation only and does not create a legal or contractual obligation for National Bank. In the event of the prepayment of your loan, the Bank will provide you with the details of the exact amounts payable. For any questions, you may at any time contact your branch or a specialized customer service representative at: 1-888-835-6281.

The client agrees to have their personal situation in relation to any product described in these pages validated and analyzed with their accountant, tax expert, and a National Bank advisor.  

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