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There’s so much more to a mortgage than just the interest rate. A competitive rate of interest is important,but so is being able to build an affordable and convenient
mortgage that may saveyou money. A mortgage representative can help you customize your mortgage to take into account virtually every
contingency you think is important A mortgage should fit your individual priorities, whether they focus on security, flexibility or a combination of both. Mortgage Options Open - Prepay as much as you want or completely pay out at any time without charge.* Closed - Make regular payments and perhaps limited prepayments.
Offers a lower interest rate than an open mortgage of the same term. Convertible - Offers a lower interest rate than the open mortgage of the same term. Option to change to a closed term of one year or longer without charge** Fixed Rate - Interest rate stays constant to the end of the selected term Variable Rate - Interest rate fluctuates with the Bank’s prime lending rate.
The amortization period is the number of years required to repay the mortgage (both principal and interest).
The amortization period may vary with fluctuations in Bank's Prime Rate: it may be longer if interest rates have
risen since the start of the term, or shorter if interest rates have fallen since the start of the term. Choosing a Mortgage Term We offer a wide range of terms from 6 months to 18 years. The length of term you select depends on your
comfort level with the possibility of interest rates rising and the importance of a stable mortgage payment
to your budget. Shorter terms are usually attractive if you believe interest rates will drop by the time you’ll be selling your home. Longer terms are preferable if stability of mortgage payment amounts is important to your budget. If you're worried about interest rate volatility, consider locking in for at least three years. Need to Consolidate and Refinance? We can help! Consolidate your credit cards and loans with your mortgage at a low rate with one monthly payment. Please complete and submit the following Online Evaluation form. The more information given, the more
accurate the evaluation. All information you provide is secure and will be kept strictly confidential.
To provide a more detailed Analysis, we would be more than happy to also meet with you for a free consultation. Please feel free to call us at 519-994-3519 or 905-302-6407
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