This mortgage offers a fixed interest rate so your mortgage payments remain the same throughout the term. This mortgage is closed, meaning that it cannot be paid off until the end of the term, unless you pay a penalty. Terms range from 1 year to 10 years.
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- Fixed interest rate
- Fixed mortgage payments
- Terms from 1 year to 10 years
Here’s how you can pay off this mortgage quicker
- An additional payment can be made every year without penalty, up to a maximum of 20% of the original amount of the mortgage, based on payment frequency.
- Mortgage payments can be doubled up any time without penalty.
- Choose bi-weekly or weekly payments instead of monthly payments.
Contact a Financial Services Advisor.
The interest rate is for the length of the term. The annual percentage rate (APR) is equivalent to the annual interest rate (AIR).