Manage your mortgage the way that works for you.
- Fixed vs variable
- Payment frequency
- Port your mortgage
- Down payment options
Variable Rate Open Mortgage
- Pay off part or all of your mortgage at any time, without interest penalties or service fees
- Convert to a Fixed Rate Closed Mortgage if interest rates rise
- Enjoy a flexible interest rate with a set mortgage payment (as long as the amount is sufficient to cover your interest cost)
Variable Rate Closed Mortgage
- Competitive mortgage rate and monthly payments
- Predictable mortgage payments
- Pre-pay up to 20% of your balance each year, with no interest penalty or service fees
Fixed Rate Closed Mortgage
- Guaranteed interest rate, protected for the duration of your term
- Predictable monthly payments
- Terms range from six months to five years
- Prepay up to 20% of your balance each year, with no interest penalty or service fees
- Set up a payment schedule of your choice (as long as you don't exceed 20% annually)
- Increasing your payment by a fixed amount
- Making an additional mortgage payment
- Making one maximum-allowed lump-sum prepayment each year
- Making several small prepayments at any time each year
High Ratio Mortgage
Purchase your home with a down payment as low as 5%, with a High Ratio Mortgage and protection offered by one of our partners. The amount you pay for protection depends on the size of your mortgage, and can be built into your mortgage amount.
Perfect for those with 20% or more saved for their down payment.
Home Buyers' Plan
This federal government program lets you withdraw up to $35,000 tax-free from your RRSP in order to buy your home. Learn more on the Canada Revenue Agency's RRSPs and Related Plans page.