08/17/2026
Your mortgage should support your next move, not trap you when life changes.
The problem is that mortgage penalties are easy to ignore at the start and painful to discover later.
A penalty may apply if you pay out your mortgage before the end of the term. That can happen when you sell, refinance, transfer lenders, or renew early.
The amount depends on the lender, product, rate type, balance, remaining term, and calculation method. In other words, two mortgages with similar rates can have very different exit costs.
Before you sign, ask the "what if" questions:
*What if we move?
*What if we refinance?
*What if rates change?
*What if our family situation changes?
When you know the exit rules upfront, you can make a clearer decision.
Schedule a risk-free call: https://mortgageallies.ca/contact/