Variable-Rate Mortgage

Get the lowest rate on the market!

The Variable-Rate Mortgage is offered at prime plus 0.00%1 and is adjusted every month. You get a discount on the lowest possible rate on the market!

And fixed payment simplifies budget planning: it establishes the payment amount in advance and when rates fall it pays down the mortgage faster.

Take advantage of convenient payment terms

  • Closed 5-year term
  • Prime plus 0.00%1 adjusted monthly
  • Fixed payment: this option facilitates budget planning and allows for a larger payment on principal. The fixed payment amount may be revised if it no longer covers current interest expenses.
  • Can be converted to a fixed-rate mortgage for a term equal to or greater than the period remaining in the current term.
  • Payment frequency can be weekly, bi-weekly or monthly.

Opt for comprehensive coverage2

If you wish, you can add Loan insurance (life, critical illness3 and/or disability) to your mortgage. For your convenience, the premiums are debited automatically from your account.

View our current rates

Capped-Rate Mortgage

The Capped-Rate Mortgage combines a low short-term interest rate with long-term interest rate security.

Your capped-rate (maximal rate) is the 5-year term rate that is in effect at time of signing. Your interest rate varies on a monthly basis and is calculated as follows: prime + 0.25%.

The prime rate may go up but you'll never pay more than the capped rate that was in effect at time of signing. This provides you with both security and significant savings.

Take advantage of these convenient features

  • Closed, 5-year term
  • Prime1+ 0.25%
  • The capped rate is the 5-year rate at time of signing1
  • If the capped rate is reached and rates continue to rise, your rate will stay at the capped rate
  • If the capped rate is reached but then rates drop, your rate will drop next month
  • Fixed payment option: facilitates budget planning and allows for a larger payment on principal. The fixed payment amount may be revised if it no longer covers current interest expenses.

Opt for comprehensive coverage2

If you wish, you can add Loan insurance (life, critical illness3 and/or disability) to your mortgage. For your convenience, the premiums are debited automatically from your account.

View our current rates

 

1 Subject to change without notice.
2 Certain conditions apply, particularly regarding eligibility.
3 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.