It pays to know your options. If you use all of RBC Bank’s flexible payment options to their fullest, you could prepay as much as 20% or more of your original mortgage balance each year. Each of the following options is designed to help you build your home equity faster and save money over the life of your mortgage: • Prepay up to the principal and interest portion of your mortgage payment • On any or every payment date • The amount of the Double-Up payment is applied directly against the principal balance of your mortgage • The minimum Double-Up payment is $100 up to the equivalent of your regular monthly mortgage payment – whether weekly, bi-weekly or monthly. This example of an $80,00 mortgage at 8.00%* shows how you can dramatically reduce the time to pay off your mortgage simply by doubling up one monthly payment each year. MONTHLY PAYMENTS AND 25-YEAR AMORITIZATION WITH ONE DOUBLED MONTHLY PAYMENT EACH YEAR Mortgage Repaid In years 25.0 20.3 Total Interest Cost** $103.165 $80,532 Interest Savings** Vs. 25-Year Mortgage N/A $22,633 A high down payment, frequent payments, and the highest payment amount you can afford will all contribute to helping you pay off your mortgage sooner. In addition, RBC Royal Bank offers these prepayment options: • Double-Up® your mortgage payment from $100 up to your full regular principal and interest payment amount. This extra payment is applied directly to your mortgage principal. You can Double-Up each time you make a regular payment up to the equivalent of your regular monthly mortgage payment – whether weekly, bi-weekly or monthly throughout the term of your mortgage. • increase your mortgage payment by as much as 10% once in each 12-month period. • pay down your mortgage by up to 10% of the original mortgage amount once in each 12-month period. These three prepayment options can be used separately or jointly.