Mortgage Break Fee Calculator
Estimate the cost of breaking your fixed-rate mortgage and see if the savings from a lower rate make it worthwhile.
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đĄBreak fees are charged when you break a fixed-rate mortgage before the term ends. Banks calculate the fee based on the cost to them of hedging the interest rate difference. Actual fees vary by lender and market conditions.
Estimated break fee$3,675
Monthly saving if you break$204
Break-even point18 months
Breaking now costs $3,675 but saves $204/month.
You'd break even in 18 months â potentially worth it if you plan to stay.
âšī¸Actual break fees vary significantly between banks. Always contact your lender for an exact figure before making decisions. Some banks may negotiate or offer cash incentives to switch.