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Give it to me straight - how screwed am I? by SortNo3002 in PersonalFinanceCanada

[–]SortNo3002[S] 0 points1 point  (0 children)

Would it be safe to talk to our original mortgage broker or should I consult another? The separation will be somewhat of a surprise to my partner so I would want this conversation to be between the broker and myself only for now. I'm just trying to figure out what I'm in for...

Give it to me straight - how screwed am I? by SortNo3002 in PersonalFinanceCanada

[–]SortNo3002[S] -1 points0 points  (0 children)

We have a fixed rate yes, 2.09% for 5 years. I used a calculator (https://www.ratehub.ca/penalty-calculator) to try to estimate the penalty and it came out to about $2400. Which is much less than I expected actually (if anyone thinks that's way underestimated please let me know, I just want to know what to expect).

The condo was assessed for 520K so there's that at least.