This mortgage is a great choice for short-term budgeters who don’t want to worry about rate changes.

Why Choose a Closed Fixed Rate Mortgage?

• Provides stability with a fixed rate and payments for the life of the term
• Lower rates than an open mortgage
• You can still pay more towards your mortgage (up to 15% of the principal) each year
• Rapid paydown. Payments can be increased by up to 100% over the term without charges