Brokers – Residential Mortgages
Our mortgage features provide flexibility and allow you to tailor your mortgage to meet your financial requirements.
- 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
Broker Commission Schedule
League Savings and Mortgage Broker Commission Schedule
- 1 year term 15 bps
- 2-year term 30 bps
- 3-year term 45 bps
- 4-year term 60 bps
- 5-year term 75 bps
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.