There’s so much more to a mortgage than just the interest rate.

A competitive rate of interest is important, but so is being able to build an affordable and convenient mortgage that may save you money.

I can help you customize your mortgage to take into account virtually every contingency you think is important.

Choose the features and options that fit your needs!

A mortgage should fit your individual priorities, whether they focus on security, flexibility or a combination of both.

Mortgage Options
Choosing a Mortgage Term

 

Mortgage Options
Open
Prepay as much as you want or completely pay out at any time without charge.*

Closed
Make regular payments and perhaps limited prepayments
Offers a lower interest rate than an open mortgage of the same term

Convertible
Offers a lower interest rate than the open mortgage of the same term.
Option to change to a closed term of one year or longer without charge**

Fixed Rate
Interest rate stays constant to the end of the selected term

 

Variable Rate
Interest rate fluctuates with the Bank’s prime lending rate
Payments generally remain the same
The amortization period is the number of years required to repay the mortgage (both principal and interest). The amortization period may vary with fluctuations in the Prime Rate: it may be longer if interest rates have risen since the start of the term, or shorter if interest rates have fallen since the start of the term.

Choosing a Mortgage Term
Lenders offer a wide range of terms. The length of term you select depends on your comfort level with the possibility of interest rates rising and the importance of a stable mortgage payment to your budget. As a general rule:

Shorter terms are usually attractive if you believe interest rates will drop by the time you’ll be selling your home.
Longer terms are preferable if stability of mortgage payment amounts is important to your budget.

If you're worried about interest rate volatility, consider locking in for at least three years.

*All prepayments must be a minimum of $100.
**Charges may apply if changing from a fixed to a variable rate.