Residential
Conventional Mortgage
Avail a mortgage for up to 80% LTV competitive rates and for terms up to 5 years.
High LTV Loans
Get financing upto 95% of LTV with Canada Mortgage and Housing Corporation (CMHC) insurance. Premium of CMHC included in loan amount.
Home Equity.
Take out the equity in your home by availing a line of credit upto 65 % of Loan-to-Value (LTV). Deposit surplus funds and withdraw at will to save on interest cost.
Mortgage Prepayment Disclosure - View Here
Residential Mortgage Public Disclosures - View Here
Information on Mortgage Security (Residential Mortgage) - View Here
Residential Mortgage Rates
From the security of a fixed rate mortgage to the flexibility of a variable rate mortgage, you have choices when it comes to interest rates.
Fixed Rate Mortgage
The interest rate for a fixed rate mortgage is locked in for the full term of the mortgage. This provides you with the security of knowing the exact payment amount due for the decided term.
Variable Rate Mortgage
The interest rate for a variable rate mortgage varies with the fluctuation in the benchmark rate. There is a fixed spread linked to the SBIC CAD prime rate, which defines the rate charged on your mortgage for the entire term. This provides you with the flexibility to take advantage of falling interest rates.
To understand Interest Rate Changes - View Here
To learn about selling your property - View Here
Featured Rates
|
Amortization 25 years or less |
||
|---|---|---|
|
Fixed Rate Mortgage |
||
|
Term (Closed) |
Featured Rates |
APR |
|
5 Year |
4.10 % |
4.1523%† |
|
3 Year |
4.00 % |
4.1016%† |
Posted Rates
|
Amortization 25 years or less |
|||
|---|---|---|---|
|
Fixed Rate Mortgage |
|||
|
Term (Closed) |
Posted Rates |
APR |
Special Rates |
|
6 Months |
NA |
NA |
NA |
|
1 Year |
7.25% |
7.7279%^ |
Special Offers are Available (Contact our Branches)
|
|
2 Year |
6.75% |
6.9571%^ |
|
|
3 Year |
4.60% |
4.7629%^ |
|
|
5 Year |
4.45% |
4.5405%^ |
|
|
Variable Rate Mortgage |
|||
|
Term (Closed) |
Posted Rates |
APR |
Special Rates |
|
3 Year (Closed Term) |
SBIC CAD Prime Rate*- 0.20 % |
4.9100%^ |
Special Offers are Available (Contact our Branches)
|
|
5 Year (Closed Term) |
SBIC CAD Prime Rate*- 0.35 % |
4.6877%^ |
|
|
Home Equity Line of Credit |
SBIC CAD Prime Rate*+ 2.00 % |
NA |
|
Terms and Conditions:
* SBI Canada Bank CAD Prime Rate is 4.95% with effect from March 13, 2025..
** The rates are for first priority mortgages owner-occupied properties with amortization periods of
25 years.
^ The Annual Percentage Rate (APR) is based on a $350,000 mortgage, 25-year amortization, for the
applicable term for monthly payments and estimated fees for valuation of property of $500 and
estimated Legal fees of $1500. Assuming the rates do not vary over the term. APR means the
annual percentage rate cost of borrowing for the mortgage. It includes all interest and non-interest
charges associated with the mortgage. If there are no non-interest charges, the annual interest rate and APR will be the same.
† The Annual Percentage Rate (APR) is based on a $550,000 mortgage, 25-year amortization, for
the applicable term for monthly payments and estimated fees for valuation of property of $500
and estimated Legal fees of $1500. Assuming the rates do not vary over the term.
@ All applicants must meet the SBI Canada Bank's lending criteria for residential properties. Other conditions and restrictions may apply.
