A simple estimate of your net proceeds. Nothing is saved: the calculation runs in your browser.
Enter 0 if the property is paid off.
The fee is negotiable. Taxes (GST 5% and QST 9.975%) are added.
Ask your lender for the exact amount.
According to the Financial Consumer Agency of Canada (FCAC), the penalty is usually the greater of 3 months of interest or the interest rate differential. The real amount may be higher: your contract decides.
Usually paid by the seller. The FCAC indicates, for all of Canada: $0 to $400 in lender fees and $400 to $2,500 in professional fees.
Usually provided by the seller. Ask a land surveyor for a price.
Tip: ask your lender whether you can transfer your mortgage to your next property (portability). It may avoid the penalty.
Would you like a more precise figure for your property?
Request a free comparative market analysisEstimate for information only. It does not replace advice from your lender, notary or accountant (capital gains tax if it is not your principal residence, for example).
