Canada Prepayment Simulator

See exactly how extra lump-sum payments reduce your mortgage payoff date and how much interest you save over the life of your loan.

Loan Details

Home Price

CAD

CAD 100,000CAD 3,000,000

Down Payment (20.0%)

CAD

CAD 32,500CAD 650,000

Annual Interest Rate

0.5%15%

Amortization Period

yrs

5 yrs30 yrs

Prepayment

Extra Lump-Sum Payment (per year)

CAD

CAD 0CAD 520,000

Most Canadian lenders allow 10–20% of your original mortgage balance as prepayment privileges each year without penalty. Check your specific mortgage agreement for exact limits.

Balance Comparison

Over 25 years

Without Prepayment

With Prepayment

Impact Summary

Interest Saved

CAD 92,175

Total prepayments: CAD 100,000

Years Saved

5.3 yrs

Payoff Without Prepay

July 2051

Payoff With Prepay

July 2045

Total Cost Without Prepay

CAD 897,560

Total Cost With Prepay

CAD 806,080

Monthly Payment

CAD 2,992

PilotRate provides educational mortgage estimates and does not constitute financial advice.