Fixed Rate Open Mortgage
Guaranteed rate with full payment flexibility.
- Guaranteed interest rate for the term of your mortgage
- Protection from rising rates
- Additional payments at any time without penalty
Our Fixed Rate Open Mortgage gives you the security of a fixed rate over the full term of your mortgage, combined with the ability to make extra payments at any time without penalty. You are protected from rising interest rates but still enjoy a competitive rate.
A fixed rate mortgage is ideal if you believe interest rates are going to go up. An open mortgage is a smart choice if you anticipate that you will have additional money (e.g. inheritance, commissions, etc.) to apply to your mortgage.
|Term||6 months or 1 year|
|Rate||Locked in for the term of the mortgage|
|Amortization||Up to 25 years (standard); longer amortizations are 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)|
|Fixed Rate Open Mortgage (Rates effective 2013-10-01)||Rates|
|6-Month Fixed Rate Open Mortgage||6.45%|
|1-Year Fixed Rate Open Mortgage||6.45%|