Designed for those with less than 20% saved for their down payment.
Designed for those who have 20% down payment saved and want a flexible mortgage that lets them take advantage of the equity in their home.
Our closed mortgages give you the benefit of better rates than open mortgages, with additional perks to help you pay down your mortgage faster:
You get to lock in your mortgage rate for any term you choose, so your payments stay the same during that time.
You can still pay up to 20% of the original principal once a year on the anniversary date.
An open mortgage gives you the ability to repay any amount of your mortgage balance whenever you want, without penalty. Rates are typically higher than closed mortgages, so you can switch to a closed mortgage at any time.
The interest rate fluctuates with our prime rate, though your payments stay the same throughout the term you choose. So, if the prime rate goes down, more of your monthly payment goes to your mortgage principal and, if it increases, more goes towards interest.
You can convert to a fixed rate mortgage at any time.
Get in touch! We’ll be happy to help you determine the right mortgage for you.
Emergencies happen. Creditor insurance ensures they don’t impact your ability to make your mortgage payments.
Ready to get started? See what you’ll need to have on hand for a smooth application.
Find out how much mortgage you can afford and compare your options.
