Want to be mortgage-free sooner? Find out the optimal lump sum prepayment or ideal amount to increase your regular payments to help shave months and years of your mortgage.

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Mortgage details

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Current mortgage details

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If you go with both options, you’d be mortgage-free N/A sooner and save N/A in interest.

You can also make larger payments, but may be subject to prepayment charges

Make a larger payment


Manulife Bank prepayment privileges

Open term mortgages can be paid out at any time.*

For closed term mortgages, the following prepayments can be made annually without prepayment charges:

  • Manulife Bank Select and Preferred Rate Mortgages:
    • Lump sum payments up to 20% of the original mortgage principal and/or
    • 25% increase in regular payments
  • Manulife One fixed rate sub-accounts
    • Lump sum payments up to 20% of the original sub-account amount
    • A 3-month interest penalty may apply if the term is greater than 5 years

*Certain fees may apply

This calculation is based on the accuracy and completeness of the data you have entered, is for illustrative and general information purposes only, and is not intended to provide specific financial or other advice, and should not be relied upon in that regard. You should speak with professional before making a final decision to ensure any strategy meets your overall financial needs and that your personal circumstances have been taken into account.

Manulife Bank does not make any express or implied warranties or representations with respect to any information or results in connection with the calculator. Manulife Bank will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on any information or results.