Variable Rate Closed Mortgage

A great rate and potential savings.

  • Best interest rate in BlueShore Financial's suite of mortgage solutions
  • Potential to save thousands of dollars in interest costs over the life of the mortgage
  • Manage your cash flow with mixed payments
  • Pay down option at time of mortgage anniversary

 

Our Variable Rate Closed Mortgage can save you thousands of dollars in interest costs over the life of your mortgage, since your rate is tied to Prime. When market interest rates fall, so will your mortgage rate. Should they rise, you can sit tight and wait it out, or you can convert it in to a Fixed Rate Closed Mortgage of equal or greater duration at any time after the first-year anniversary date.

This mortgage offers the lower interest rate of any BlueShore Financial mortgage as well as the flexibility of term lengths ranging from 6 months to 5 years.

Term 6 months to 5 years
Payments
  • The rate is variable, but the 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
  • 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 ongoing basis, by up to 15% once each calendar year
Rate
  • Rate is variable and tied to Prime
  • Convert to a fixed rate mortgage at any time after the first-year anniversary date
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

 

Variable Rate Closed Mortgage Rates
5 Year Variable Rate Closed Mortgage
Prime + 0.15%

 

Variable Rate Open Mortgage

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 a fee – no strings attached

 

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.

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 a fee
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

 

Variable Rate Open Mortgage Rates
6 Month Variable Rate Open Mortgage
Prime + 1.25%
5 Year Variable Rate Open Mortgage
Prime + 1.15%

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

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.

Term 6 months to 10 years
Payments
  • 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
Rate
  • 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
Split Rate Mortgage
Rate based on the fixed and variable rate for the term selected

Interest-Only Variable Rate Mortgage

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

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.

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 a fee
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

 

Interest Only Variable Rate Mortgage Rates
Interest-Only Variable Rate Mortgage
For current rates, speak to a mortgage advisor.
BlueShore Financial, Financial Advisor, Adam Franklin

Adam Franklin

Financial Advisor

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* Rates are subject to change without notice at any time.