| Closed Fixed (Special) | |
|---|---|
| 6 Months | 2.95% |
| 1 Year | 2.49% |
| 2 Year | 2.24% |
| 3 Year | 2.04% |
| 4 Year | 2.09% |
| 5 Year | 2.14% |
| 6 Year | 3.39% |
| 7 Year | 3.69% |
Learn more about the Shared Equity Mortgage (SEM) incentive that can save you THOUSANDS!
- Checklist - When applying for a mortgage, we'll need some documents and information.
- Residential Mortgage Security - When you borrow money to buy a house, we require security in the form of real property.
- Residential Mortgage Default Insurance - As per Legislation, we can only lend up to 80% of the purchase price or value of your new home. If you have less than 20% for a down payment, you'll need mortgage default insurance.
A protection plan provides peace of mind for you and your loved ones. During a tough time, you can focus on your family. We'll focus on protecting you from financial loss.
We have many affordable coverage options to keep your home and family safe. Ask us about your protection options.
Already have a mortgage with us?
It's never too late to add coverage to your existing mortgage. Enrolling is easy and we offer a 30 day free trial period. Ask us about your protection options.
- Pay up to 20% of your original mortgage principal each year without penalty
- Increase your monthly payments by 20% without penalty
Let's say you have the following mortgage:
- Mortgage: $200,000
- Rate: 1.99%
- 25 year amortization
- Monthly payment= $845.94
You can increase your monthly payments by 20%.
$845.94 x 20%= $169.19
This means your maximum monthly payment could be $1015.13.
If you pay $1015.13/month, your mortgage length changes from 25 years to 19.92 years!
20% original principal example:
Let's keep the same mortgage details.
You can put up to $40,000 extra on your mortgage per year ($200,000 x 20%=$40,000) over the course of your mortgage without penalty. This would also change your mortgage length from 25 years to 19.92 years!
If you'd like to take advantage of our 20/20 option, contact us today!
**Additional information could be required depending on the type of construction project you are undertaking.
Calculators
These calculators are made available to you as tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please visit your branch to seek personalized advice from qualified professionals for all personal finance issues.