Capped Rate Mortgage
Potential savings and protection from rising rates
- Interest rate tied to Prime, but capped to minimize risk
- Potential cost savings plus built-in protection from rising rates
- Save money – use your pay-down option on your mortgage anniversary
Our Capped Rate Mortgage allows you to reap the potential cost savings of a variable rate mortgage linked to Prime. But it also provides automatic protection from rising interest rates by capping your rate just under the equivalent five-year fixed mortgage.
If rates go down, you benefit from a lower interest rate on your mortgage. If rates go up, your rate is still less than it would be for a fixed rate closed mortgage. It’s the perfect way to go.
|Amortization||Up to 25 years (standard); longer amortizations available - talk to your advisor|
|Financing||Up to 80% of the value of your property; up to 95% if insured by a third party such as CMHC|
|Capped Rate Mortgage (Rates effective 2018-11-21)||Rates|
|5-Year Capped Rate Mortgage||3.95% (Cap: 5.20%)|