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Variable Rate Open Mortgage

Savings potential and full repayment flexibility

Savings potential and full repayment flexibility.

  • Potential to save money over the life of the mortgage
  • Rate is tied to Prime
  • Manage your cash flow with fixed payments
  • Make additional payments or pay off your mortgage at any time, without penalty – no strings attached
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Our Variable Rate Open Mortgage can save you thousands of dollars in interest costs over the life of your mortgage. Your interest rate is tied to Prime, so when market interest rates fall, so does your mortgage rate. Should rates rise, you can sit tight and wait it out, or lock in to a fixed rate mortgage at any time.

Save even more by taking advantage of full repayment flexibility; make additional payments at any time to reduce your mortgage. This is a smart choice if you expect to have additional cash - commissions, bonuses, or even an inheritance – to pay down your mortgage.

Variable Rate Open Mortgage Details
Term 6 months or 5 years
Payments
  • The rate is variable, but your payments are fixed. What changes is the amount that goes toward reducing your mortgage principal
  • Choose the payment frequency — weekly, bi-weekly, semi-monthly or monthly — to suit your cash flow
  • Increase the frequency or amount of your payments, or pay off your mortgage completely without penalty
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

Variable Rate Open Mortgage (Rates effective 2015-06-10) Rates
6-Month Variable Rate Open Mortgage Prime +1.25%
5-Year Variable Rate Open Mortgage Prime +1.15%

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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