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 - Click Here
Residential Mortgage Public Disclosures - Click Here
Information on Mortgage Security (Residential Mortgage) - Click 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 - Click Here
To learn about selling your property - Click Here
Fixed Rate Mortgages | ||
---|---|---|
Closed | ||
Term | Posted Rates | Special Rates |
6 Months | NA | NA |
1 Year | 6.90 % | NA |
2 Year | 6.90 % | NA |
3 Year | 6.60 % | NA |
4 Year | 6.90 % | NA |
5 Year | 6.40 % | Special Offers are Available (Contact our Branches for more details) |
Variable Rate Mortgage | ||
---|---|---|
Variable Closed Mortgage | ||
Term | Posted Rates | Special Rates |
5 Year | SBIC CAD Prime Rate + 0.20 % | Special Offers are Available (Contact our Branches for more details) |
Home Equity Line of Credit | SBIC CAD Prime Rate + 1.50 % | Special Offers are Available (Contact our Branches for more details) |
- SBI Canada Bank Prime Rate is 7.20% with effect from July 13, 2023.
- Rates have been provided for information only and are subject to change without notice at any time.
- Special Offer may be changed or be withdrawn at any time without notice.
- Other conditions and restrictions apply.