Strategy-5 Mortgage - National Bank of Canada

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Strategy-5 Mortgage¹

Are you about to buy your first house? Do you want to get one of the best rates on the market?

The Strategy-5 Mortgage is a mortgage loan with a term of five years featuring a variable interest rate that is reduced by 1.50% for the first year and 0.30% for subsequent years. It is renewed each year.

Since you’re benefiting from a very advantageous rate the first year, it is easier to manage your budget. This also helps you repay more capital at the start of your loan.

Example:

	5-year fixed mortgage loan	Strategy-5 Mortgage
Interest rate²	7.05%	5.10%
APR³	7.05%	6.02%
Monthly payment	$1,055.26	$880.97
Capital repaid after 5 years	$13,347	$15,131
² Rate in effect on July 7, 2006.
³ APR means “Annual percentage rate” based on a loan of $150,000 for a term of 5 years.

As the example shows, the Strategy-5 Mortgage allows you to repay the capital faster than a fixed-rate mortgage does, and gives you the opportunity to save on interest charges.

Enjoy convenient terms

Maximum amortization of 35 years
Closed five-year term
Rates established based on the rate for the one-year term less 1.50% for the first year, and less 0.30% for the four following years
Payment adjusted annually according to the interest rate in effect on the rollover date
Mortgage agreement with revolving clause

Opt for comprehensive coverage⁴

If you wish, you can add life, critical illness⁵ or disability insurance to your mortgage. For your convenience, the premiums are debited automatically from your account.

View our current rates

¹ Subject to National Bank credit approval. Some conditions apply. Details available at your branch. The rate applicable to the Strategy-5 Mortgage is the interest rate applicable to closed, one-year residential, fixed-rate mortgage loans. The rate is adjusted once a year on the loan's anniversary date according to the rate then in effect.
⁴ Certain conditions apply, particularly regarding eligibility.
⁵ This coverage is valid only in the event of an initial diagnosis of one of the following three conditions: cancer, stroke or heart attack (subject to certain exceptions) and is only offered to clients with life insurance from National Bank Insurance. This insurance is available only for National Bank mortgage loans and covers loan balances up to $500,000.


	Complete a pre-approval or a mortgage application form

	Meet with a Mortgage Development Manager at your home

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	Telephone 514-394-5555 1-888-4-TelNat