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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.

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