By using the calculator, Laurentian Bank assumes the following: (i) the interest rate remains constant throughout the amortization period; and (ii) the payment schedule selected is maintained with no additional payments or skipped payments.
Laurentian Bank of Canada does not make any warranties (implied or express) or representations regarding any information or results from the use of this calculator. Laurentian Bank is not liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision you make based on the results of the calculator; the Laurentian Bank of Canada strongly advises you not to rely solely on this information or result when making any financial decision(s). You should speak with one of our mortgage advisors before making a final decision on a mortgage or a mortgage prepayment to ensure it meets your overall financial needs. The calculation is based on the accuracy and completeness of the data you have entered. Refer to your mortgage documents to find the information you need for this calculator. The calculation is an approximation and for illustrative purposes only and is not intended to substitute financial advice. For purpose of determining the prepayment charge applicable to your mortgage, the data taken from the accounts and records of Laurentian Bank of Canada will constitute conclusive evidence of such data. For financial advice, speak to a mortgage advisor. The calculation(s) presented may differ from the actual calculation(s) on our system, possibly to a large degree. For more information, call Client Services at 1 800 252-1846.