Residential Mortgages
Mortgage Products
Types of Residential Mortgages
Purchases | Purchase plus improvements | Condominiums | Mini Homes |
Construction Mortgages | Second Homes and Cottages | Equity Takeouts/Refinances
Purchases
Interested in buying a home but aren’t sure how much you’re qualified to borrow?
Construction Mortgages
Interested in building a new home but aren’t sure how much you’re qualified to borrow?
Equity Takeouts/Refinances
Interested in renovating your home but aren’t sure how much you’re qualified to borrow?
Residential Mortgage
Features
Our mortgage features provide flexibility and allow you to tailor your mortgage to meet your financial requirements.
Terms include:
- Open (6 months) or closed (6 months – 5 years)
Amortization Periods include:
- Up to 25 years
Payment frequencies include:
- Weekly, bi-weekly, semi-monthly and monthly
Pre-payment privileges include:
- Increase your regularly scheduled payment by 20% in a 12 month period
- Pay an additional 20% of the outstanding balance in a 12 month period
- At renewal, any amount can be paid down on the mortgage without penalty
- Can change frequency of payment to weekly or bi-weekly accelerated
Pre-payment penalties are charged for:
How can you avoid prepayment charges?
- Blending the interest rates when refinancing
- See prepayment privileges above
Residential Mortgages
Contact us for information about your Residential Mortgage.
Property taxes can be collected with mortgage payment.
Cash back mortgages offered, up to 5% (can not be used for down payment).
Title Insurance is accepted.
More information on mortgages can be obtained by viewing the website of The Financial Consumer Agency of Canada.