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Mortgage Prepayment Calculator

Definition of 3-months’ interest and IRD:

3-months interest: is calculated by applying the interest rate being charged on your current mortgage, to the outstanding mortgage principal balance, for a 3 month period.

IRD: Interest Rate Differential or IRD is the difference between the customer’s actual mortgage Interest rate and ATB’s current mortgage interest rate* for the term closest to the length of time remaining in the mortgage term. This difference is then multiplied by the mortgage balance and residual term.

*ATB’s current mortgage interest rates are subject to change without notice. The estimated IRD is based upon the current mortgage interest rate on the day the estimate is obtained and will change on the payout date if ATB’s then current mortgage interest rates change​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

Based on the information you provided:


  1. Calculator assumes that you have not made any prepayment on the mortgage this calendar year.
  2. Calculator assumes that you make all of the payments any pay all of the taxes when due.
  3. If a variable rate, then the variable rate is the same at the time of the prepayment.
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