Today's Top Deal

Canada's Best 5-year Fixed With a Line of Credit

If you don't want to think about your mortgage rate for years, and have 30% or more equity, this special is for you.  You'll sleep well knowing your interest costs aren't going anywhere until 2024. And should you require quick access to funds, this mortgage comes with a built-in readvanceable line of credit.

According to RateSpy.com, a 5-year fixed refinance rate of 2.69% is the most competitive readvanceable mortgage in Canada for applicants with a loan-to-value up to 70%. But not only that, it affords five full years of security against rising rates, making it ideal for those who may be sensitive to interest cost and/or payment increases.

Unlike many competing deep-discount rates, this mortgage provides considerable flexibility. It's got a fair penalty, great prepayment options and built-in readvanceable line of credit (which you can use for things like renovations, suitable investments, business use, an emergency fund, or not use it at all).

Note that the rate advertised is based on a $300,000 mortgage. Higher loan amounts entail even lower rates, and vice versa.

Bonus: Get a free legal, appraisal and discharge fee rebate on a lender switch, up to $1,200!

Who’s Right For This Deal

This mortgage has many of the benefits of a big bank mortgage, and more. It's designed for someone who:

• needs a new mortgage on a home purchase, or has a mortgage they want to switch from another lender
• has a loan-to-value of 70% or less (Note: The credit line can give you up to 80% loan-to-value total)
• will not need to break or increase the mortgage for the next 60 months.
• is financing a home worth less than $1 million dollars (unless you purchased it before October 2016 in which case there is no limit)
• wants a mortgage no more than $950,000
• has great credit and provable income.

Rate Specifics

This mortgage:

• Comes with a 120-day rate hold
• Is available on purchases and switches of owner-occupied properties
• Includes flexible 20% annual lump sum prepayment and 20% payment increase privileges
• Links to any bank account for easy electronic payments.
• Is portable with a 90-day port gap, subject to requalification.
• Comes with a no-fee Line of Credit (required for this rate)
• Permits amortizations up to 25 years
• Can be increased later without penalty or legal fees, subject to requalification (min. increase is $10,000).
• Is registered collaterally, thus enabling increases later without legal fees 
• Is a special introductory promotion and not applicable to those with existing intelliMortgage approvals.

This offer is available on approved credit and may be subject to change without notice. Other conditions may apply. E&OE.

Have a question? Live chat with our friendly mortgage concierges, or call 800-280-2460 from 9 a.m. to 8 p.m. ET (5 p.m. PT).

How It Stacks Up

Today’s top deal should be the best insured 5-year fixed refi rate (up to 70% LTV) in Ontario, Alberta, B.C., Newfoundland & Labrador, New Brunswick and PEI. But don’t take our word for it. Compare this deal to others using Canada’s most popular rate shopping tools.