# What are the prepayment options available with Sagen-insured mortgages?

> Sagen defines a mortgage prepayment as any additional payments made beyond the scheduled amount in the original mortgage agreement, including both lump-sum and accelerated payments .

Category: Strategy
Last verified: 2026-02-18
Source: https://ratellow.com/faqs/strategy/what-are-the-prepayment-options-available-with-sagen-insured-mortgages

## Answer
Sagen defines a mortgage prepayment as any additional payments made beyond the scheduled amount in the original mortgage agreement, including both lump-sum and accelerated payments . This empowers borrowers to reduce their mortgage principal faster than initially planned.

## Institutional highlights
- You can pay off your mortgage faster with both one-time payments and increased regular payments.
- These extra payments help you pay down your mortgage principal without extra interest or penalties.
- Using prepayment options helps you shorten the time it takes to fully pay off your mortgage.

## Related guide
- https://ratellow.com/guides/mortgage-prepayment-privileges

## Sources
- Mortgage Insurance Prepay and Re-Advance Policy — https://www.sagen.ca/ups/underwriting-documentation/#mortgage-insurance-prepay-and-re-advance-policy-638f55989d20b
- I. Purpose and scope of the guideline — https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/residential-mortgage-underwriting-practices-procedures-guideline-2017#1.0
- Page 2 — https://assets.cmhc-schl.gc.ca/sf/project/cmhc/pdfs/factsheets/new/cmhc-quick-reference.pdf#page=2
- Notes — https://www.bankofcanada.ca/rates/banking-and-financial-statistics/posted-interest-rates-offered-by-chartered-banks/#notes