Tools
Free big-bank mortgage tools
Short answer: Free tools, all in your browser: a big-bank penalty analyzer built on each bank’s own posted rates and formula, six bank-specific penalty calculators, a bank-vs-broker total-cost comparison, a renewal timeline and checklist, and a payment calculator at the banks’ published rates. Each opens with a worked example from those rates.
Five calculators that run in your browser. Nothing you type is sent anywhere, and every rule they use links to its official source.
Big-bank penalty analyzer
Pick your bank and when your term started: its own posted-rate table and published formula, whether breaking pays, how waiting shrinks the cost, and all six banks side by side. Applies the Interest Act cap for terms over five years.
Bank vs broker cost comparison
Two offers over the whole term: interest, fees, cash back and the penalty if you break early.
Renewal checklist and timeline
Dates counted back from your maturity date, ten steps to tick off, and a printable page.
Payment and amortization calculator
All six payment frequencies, Canadian semi-annual compounding, extra payments and your balance at renewal.
One calculator per bank
RBC, TD, Scotiabank, BMO, CIBC and National Bank each get a penalty calculator set to that bank’s comparison-term rule and posted table.
Each tool opens with a worked example built from a bank’s own published rates (November 2, 2026), so you can check the maths before you trust your own result. Other questions have their own MITEY sites: the stress test on MortgageStressTestCalculator.ca, payment schedules on Calculating.ca, whether refinancing pays on Revalued.ca, and how good a quote is on IsThisAGoodRate.ca.
Worked example: the analyzer’s default mortgage at all six banks
$465,000 at 6.09% on a 5-year term from 2023-08, 21 months left. The penalty analyzer prices it with each bank’s own posted table and rule:
| Bank | Estimated penalty | Compares with |
|---|---|---|
| RBC | $8,951 | 2-yr posted |
| TD | $11,799 | 2-yr posted |
| National Bank | $13,011 | 1- and 2-yr rates, interpolated for 21 months |
| Scotiabank | $13,020 | 2-yr posted |
| CIBC | $13,020 | 2-yr posted |
| BMO | $15,461 | 2-yr posted |
Computed by this site’s engine from each bank’s published rates (November 2, 2026). An example, not a quote.
