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Interest-Only Variable Rate Mortgage

Low payments put real estate investment within reach

Low payments put real estate investment within reach.

  • Lowest payments possible
  • Ideal for short-term mortgages on investment properties
  • Increase payments at any time without penalty
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Our Interest-Only Variable Rate Mortgage requires only that payments cover the interest on the mortgage. These low payments give you great flexibility to manage your cash flow.

This type of mortgage is ideal if you have limited resources now, but anticipate an increase in income or cash flow in the near future. It's an excellent strategy for those looking for bridge financing or financing for construction.

You can increase your payments and start paying down the principal at any time – or convert to a conventional fixed or variable rate mortgage. It's up to you.

Interest-Only Variable Rate Mortgage Details
Term 6 months or 1 year
Payments
  • Choose weekly, bi-weekly, semi-monthly or monthly payment frequency to suit your cash flow
  • Increase payment frequency or amount, or pay off your mortgage completely without penalty
Rate
  • Rate is variable and tied to Prime
  • Option to convert to another variable or fixed rate mortgage at any time
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

Rates

Interest-Only Variable Rate Mortgage (Rates effective 2009-01-26) Rates
Interest-Only Variable Rate Mortgage For current rates, speak to a mortgage advisor.

Apply now or get pre-approved for a mortgage. It couldn't be easier.

† Rates are subject to change without notice at any time. For more information visit your nearest branch or call us at 604.982.8000 or toll-free 1.888.713.6728.

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