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Split Rate Mortgage

Split Rate Mortgage

The best of both worlds: savings and security.

  • Security of a fixed rate with the potential cost savings of a variable rate
  • Choose the balance between fixed and variable rate that's right for you
  • Pay-down option at time of mortgage anniversary
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Tempted by the potential cost savings of a variable rate mortgage, but not completely confident interest rates will stay low over the term of your mortgage? A Split Rate Mortgage may be for you.

Our Split Rate Mortgage combines the security of a fixed rate mortgage with the potential cost savings of a variable rate mortgage. Your mortgage is split so that part is based on a variable rate tied to Prime, part on a fixed rate. The mix is completely flexible; 50/50, 30/70… you decide, based on your comfort level and tolerance for risk.

Split Rate Mortgage Details
Term 6 months to 10 years
  • Choose weekly, bi-weekly, semi-monthly or monthly payment frequency to suit your cash flow
  • Up to 15% of the original principal can be paid down each year on the mortgage anniversary date
  • Scheduled payments can be increased, on an on-going basis, by up to 15% once each calendar year
  • You choose the ratio of variable to fixed portions of the mortgage
  • While a portion of the mortgage rate is variable, your payments are fixed — what changes is the amount that goes to reduce your mortgage principal
  • Convert entirely to a 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


Split Rate Mortgage (Rates effective 2009-10-01) Rates
Split Rate Mortgage Rate based on the fixed and variable rate for the term selected.

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† 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.

*** Payment protection coverage is optional and is underwritten and provided by CUMIS Life Insurance Company. Coverage is governed by the terms and conditions of the creditor group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements.

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