Variable Rate Open Mortgages
A Variable rate open mortgage, is offered at the bank's
prime rate.
It is fully open, giving you the flexibility to pay
down your mortgage at any time without penalties.
Your payment is fixed, and the rate guaranteed to match
the bank's prime rate, and payments are adjusted
monthly. If prime goes down, more of your monthly
payment will go towards reducing your principle, and
less towards the interest.
This product is ideal if you are anticipating a large
sum of money from an inheritance, a maturing investment,
or you simply want comfort in knowing you can make lump
sum payments at anytime without restriction.
This product is only available for a 5 year term.
You can select this mortgage for a new purchase or to
refinance your existing one.
You can select to have your variable open mortgage
amortized up to 35 years.
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The first step is to allow us to get you
pre approved.
If you have already made an
offer on a property, then you are
ready to apply for a
mortgage on line.
You may also apply by fax. Download a a printable application, or you may call us at
1-877-307-6800 and talk to one of our mortgage
expert.
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