There is no prepayment in full before maturity, except in the case of a bona fide sale of the property or a refinance with the lender. When payment security is a must, a 5-year fixed is the term of choice, and this is our lowest available 5-year fixed. It comes with solid options like a 120-day rate hold, 10% prepayment ability and a fair prepayment charge if you wish to pay it off early. Being a deep discount less frills rate, the two tradeoffs are that you must refinance with the lender (if you decide to refinance before 5 years) and blended rates are not offered (relevant if you want to increase the mortgage before 5 years).
*There is no prepayment in full before maturity, except in the case of a bona fide sale of the property or a refinance with the lender.
*No increases after closing without a prepayment charge, which may be discounted by the lender at its discretion.
*Includes a FREE one-year home warranty
*Offer is a special intelliMortgage promotion for new business. Rate is not available on existing applications.
*Maximum mortgage is $950,000 if insured and $750,000 if uninsured.
*Max loan amount in AB is 640k for uninsured mortgages.
*Porting restrictions apply
(A) you and the new property qualify, and (B) if the sale of the old property occurs in the same month as the new property and within 30 days. Rate requires: (A) signed commitment within 5 business days of approval; (B) all documents to be provided to the lender with in 10 business days prior to closing. Otherwise a 5 basis point (0.05%) surcharge applies. Please note: Transfers in Ontario only as of May 2020. For standard switches, this lender pays all appraisal, in-house legal, registration and discharge fees (up to $350) from your existing lender. *A 5 basis point (0.05%) rate surcharge applies to switches of collateral charge mortgages.
*Your existing bank must be on this lender's approved lender list
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*(Rate based on $300,000 mortgage.*) Change