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The Fixed Rate Closed Mortgage is one of the most popular mortgage solutions we offer. It provides the security of a highly competitive fixed rate over the full term of your mortgage and predictable payments. And you have the option to save even more by making additional payments each year on your mortgage anniversary date.
This can be an ideal solution for first-time buyers who choose a long amortization period. Taking advantage of our fixed mortgage rates protects you from rising interest rates. A closed mortgage offers a better interest rate than an open mortgage and also allows you to lock in for longer terms (up to 10 years).
| Term | 6 months to 10 years |
|---|---|
| Payments |
|
| Rate | Locked in for the term of the mortgage |
| Amortization | Up to 25 years (standard); longer amortizations available - talk to your advisor |
| Financing | Up to 80% of the value of your property |
Guaranteed rate with full payment flexibility
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 a fee. 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 |
|---|---|
| Payments |
|
| 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 |
Our team of experienced professionals are here to answer any questions you may have.
* Rates are subject to change without notice at any time. Interest rate is calculated per annum and accrued daily.
** Some conditions apply; subject to credit approval, for mortgages on owner-occupied properties with a maximum 25-year amortization and 75% loan-to-value ratio. Talk to our mortgage advisors for details.