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Mortgages

Mortgages

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

                                                          

                                                              Featured Rates   

Amortization 25 years or less

Fixed Rate Mortgage

Term (Closed)

Featured Rates@#**

APR

5 Year

4.85 %

4.889%

3 Year

5.05 %

5.132%

                                                     

                                                            Posted Rates

Amortization 25 years or less

Fixed Rate Mortgage

Term (Closed)

Posted Rates @**

APR

Special Rates@#

6 Months

NA

NA

NA

1 Year

8.05%

8.503%^

 

Special Offers are Available (Contact our Branches)

2 Year

8.05%

8.217%^

3 Year

5.75%

5.888%^

4 Year

5.75%

5.841%^

5 Year

5.50%

5.569%^

Variable Rate Mortgage

Term (Closed)

Posted Rates @**

APR

Special Rates@#

1 Year (Closed Term)-8.70

SBIC CAD Prime Rate*+ 1.75 %

9.130%^

 

Special Offers are Available (Contact our Branches)

2 Year (Closed Term)-8.70

SBIC CAD Prime Rate*+ 1.75 %

8.845%^

3 Year (Closed Term)-7.75

SBIC CAD Prime Rate*+ 0.80 %

7.832%^

4 Year (Closed Term)-7.95

SBIC CAD Prime Rate*+ 1.00 %

7.979%^

5 Year (Closed Term)-7.45

SBIC CAD Prime Rate*+ 0.50 %

7.467%^

Home Equity Line of Credit

SBIC CAD Prime Rate*+ 2.00 %

NA

  

   Terms and Conditions:

   * SBI Canada Bank Prime Rate is 6.95% with effect from June 6th, 2024.

   *  * 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.

     @ Special Offer and Posted Rates may change at any time without notice.

 # Other conditions and restrictions may apply.

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