Our mortgage features provide flexibility and allow you to tailor your mortgage to meet your financial requirements.
- Open (6 months) or closed (6 months – 5 years)
Amortization Periods include:
- Up to 25 years
Payment frequencies include:
- Weekly, bi-weekly, semi-monthly and monthly
Pre-payment privileges include:
- Pre-pay up to double your principal and interest payment each month
- Pay an additional 20% of the outstanding balance in a 12 month period
- At renewal, any amount can be paid down on the mortgage without penalty
- Can change frequency of payment to weekly or bi-weekly accelerated
Pre-payment penalties are charged for:
- Paying out mortgage in full prior to maturity date
- Exceeding pre-payment privilege amounts
- Click here to see how we calculate our prepayment charges.
How can you avoid prepayment charges?
- Blending the interest rates when refinancing
- See prepayment privileges above
Property taxes can be collected with mortgage payment.
Cash back mortgages offered, up to 5% (can not be used for down payment).
Title Insurance is accepted.
More information on mortgages can be obtained by viewing the website of The Financial Consumer Agency of Canada.