Closed Fixed Rate

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