Know the privileges
Lenders differ on payment increases, annual lump sums, double-up payments, and how unused privileges are treated.
MORTGAGE-FREE FASTER
Small extra payments can remove years—not just dollars.
Add a comfortable monthly amount and see how much sooner the mortgage could be paid off if the rate and payment pattern stayed constant.
✓ Private planning estimate✓ Updates as you type✓ Ontario-focused
PREPAYMENT ILLUSTRATION3y 11mAssumes a constant interest rate and monthly extra payment for the full period. Confirm your lender’s prepayment privileges and any limits before increasing payments.
estimated time removed from your amortization
Regular monthly payment$2,991
Payment with extra amount$3,291
Estimated new payoff time21y 1m
Estimated interest avoided$66,623
BEYOND THE CALCULATOR
The best prepayment plan is one you can keep.
The goal is not to make the biggest payment once. It is to use the lender’s privileges consistently while keeping enough cash for emergencies and higher-priority debt.
Keep flexibility
A plan should leave room for repairs, income changes, and other priorities so the extra payment does not create new debt.
Review at every renewal
Recalculate after rate and balance changes, then direct the payment difference or cash-flow improvements toward the principal.
YOUR NEXT MOVE
Let’s make the mortgage fit your life.
A quick conversation can show you what is possible, what it costs, and which option actually makes sense.
