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Mortgages

Fixed rate

Whoever said predictability is boring does not appreciate the benefits of a fixed rate mortgage.

Fixed rate mortgages

You don’t want movies to be predictable, but it’s great when your monthly expenses are. With a fixed rate mortgage, you know exactly what you’re paying every month for the duration of your term. No surprises.

Benefits:
  • Minimize payment amounts with a great rate and get up to a 30-year amortization
  • Choose an open or closed mortgage
You also get these options:
  • Increase your mortgage payments up to 100% on any payment date to pay off your mortgage even faster and save interest
  • Make a principal pre-payment up to 20% on your annual anniversary date and pay your mortgage off even faster. 
  • Flexibility to choose between a 1 to 10 year term

What’s the difference? Fixed vs. variable mortgage rates.

With a fixed rate mortgage, your payments and interest rate stay the same for the term of your mortgage. Every time you make a payment, the same amount goes towards the principal. Fixed rate mortgages provide consistency, allowing you to easily budget. Unless you make extra payments, you know exactly how much principal will be left at the end of your term.

With a variable rate mortgage, your payments stay the same for the term of your mortgage, but the interest rate changes with market fluctuations. When interest rates drop, more of your payment goes towards your principal. When interest rates rise, less of your payment goes towards your principal. A variable rate mortgage can potentially save you a lot of money in interest, but you are subject to interest rate changes you can’t predict and you won’t know exactly how much principal will be left at the end of your term until you get there.
 

No matter which mortgage you choose, you always get:

  • A 3-month rate guarantee: That means even if something changes in the market and rates rise before your mortgage is processed, your rate is honoured
  • Flexible payment schedules: Monthly? Bi-weekly? Weekly? We’ve got options to ensure your payment frequency fits your budget and goals
  • Portability**: Moving? Easily transfer your mortgage to a new property when you move
  • Options to sell**: You can sell your low interest rate mortgage with the sale of your house as an added incentive for potential buyers


Talk to a mortgage expert about your optionsGet pre-approved online

 

Explore the different types of mortgages

Variable rate

Take advantage of lower interest rates with a variable rate mortgage. And if rates start to rise, you can lock in any time.

View details

Explore all mortgages

See a side-by-side comparison of key features of our mortgage offerings to help you decide which one might work for you.

Explore all

 
 

How can our mortgage experts help you?

Home

Buy a home

From your first apartment to your dream home, we're here to support you throughout the entire process

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Home

Switch my mortgage

Explore why local banking means more, even for your mortgage, with a range of options to suit your needs

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Home

Renew my mortgage

Start the renewal conversation now to lock in rates and find the mortgage made for you

Learn more

 
 
 
 


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1 888 440 4480


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