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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
$
$100,000$3,000,000
$
$32,500$650,000
%
0.5%15%
yrs
5 yrs30 yrs
Prepayment
$
$0$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 yearsWithout Prepayment
With Prepayment
Impact Summary
Interest Saved
$92,175
Total prepayments: $100,000
Years Saved
5.3 yrs
Payoff Without Prepay
June 2051
Payoff With Prepay
June 2045
Total Cost Without Prepay
$897,560
Total Cost With Prepay
$806,080
Monthly Payment
$2,992
PilotLend provides educational mortgage estimates and does not constitute financial advice.