Estimate the greater of 3-month interest or IRD using lender posted vs discounted rates.
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Principal remaining on the mortgage today.
Derive the payout penalty by comparing 3-month interest with posted and discounted IRD scenarios.
Estimate mortgage break penalties based on term and rate details.
Use it before refinancing or selling a property.
Fixed-rate penalty
Estimate IRD vs three-month interest.
Variable-rate penalty
Calculate a three-month interest penalty estimate.
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Fixed mortgages can use IRD formulas that increase penalties when rates fall.
No. This is an estimate. Ask your lender for an official payout quote.
Sometimes by porting or timing the change near maturity.