Here is a great video that explains not all lenders although there policy seems simular is the same when it comes to calculating the penalty.

http://www.theglobeandmail.com/report-on-business/video/dont-get-stuck-in-the-mortgage-penalty-box/article18074696/#dashboard/follows/

The Angela Calla Mortgage Team looks to place your mortgage first provided you qualify with a lender whom does not use posted rates as their gauge. This will save you thousands of dollars long term and reduce your cost of borrowing.

Contact us today to help you with your mortgage and to avoid this costly mistake 604-802-3983 callateam@dominionlending.ca