Refinance Calculator
Break-Even Analysis
Calculate your penalty, payment reduction, and time to break even on a commercial refinance.
Current Mortgage
$
New Mortgage
Example rate — commercial pricing is quoted per deal. Enter the rate you've been offered.
$
$
$
Penalty Calculation
3-Month Interest$5,750
IRD Penalty$11,520
Selected Penalty$11,520
Refinance Costs
Penalty$11,520
Legal Fees$1,500
Appraisal$500
Discharge Fee$350
Total Costs$13,870
Consider Carefully
Monthly Payment Reduction
$379
Break-Even
48 months
5-Year Net Savings$3,168
Estimates only. Payments use Canadian semi-annual compounding. Monthly savings compare your current payment (remaining amortization) with the new payment; choosing a longer new amortization lowers the payment partly by extending the payoff period. The IRD shown uses the new rate as the comparison rate — get a written penalty quote from your lender. Legal, appraisal and discharge fees are typical estimates.