Fixed And Variable Rate Solutions

• Purchases
• Refinances

Fixed Rate: 500

Variable Rate: 600

• 1, 2, 3, and 4 year fixed rate
• 5 year variable closed variable rate

Fixed Rate: Up to 30 years 

Variable Rate: Up to 25 years

• Seconds allows to 80%
• LTV may be reduced for higher property values

• Single family detached, semi-detached, townhome (minimum 800 square feet)
• Condominium or apartment (minimum 500 square feet)
• Acreages:
  • 75% LTV on Well and Septic
  • 80% LTV on all Municipal Services 
  • LTV based on: 5 acres of land, value of the property and 1 outbuilding (personal use)
  • Maximum 10 acres

• Within 100 km of a large urban population centre (communities with populations greater than 100,000)
• Within 50 km of a medium population centre (communities with population between 30,000 and 100,000)
• Within 25 km of a small population centre (communities with populations between 10,000 and 30,000)
• LTVs may decrease once outside city limits
  
  ***Please contact your local Business Development Manager with questions

• $100,000
• $75,000 in Atlantic Canada

• The greater of the mortgage contract rate plus 2% or the 5 year benchmark rate

• Early payouts permitted (may be subject to charges)
• Opportunity to make an annual payment up to 15% of original mortgage amount, or increase monthly payment up to payment amount at any time
• Fixed: The fee amount corresponds to 1% of the prepayment amount plus the higher of the following two amounts:
  3 months of interest calculated on the prepayment amount at the posted rate for the loan described below;

• The sum of the following 2 amounts:
  1 month of interest calculated on the prepaid amount at the posted rate for the loan, up to a maximum amount of $500; and
• The interest differential: The interest differential is the discounted value (calculated at the standard rate indicated below) of the excess of the interest which the prepaid amount would earn at the posted rate for the remaining term of the loan over the interest which the prepaid amount would earn during the same period at the standard rate indicated below.

• Variable: The fee amount corresponds to 3 months of interest, calculated on the prepaid amount at the standard interest rate in effect at the Bank on the calculation date for a variable-rate loan of the same type as the loan plus 1% of the prepayment amount.

• BEACON/FICO scores less than 500
• Unique properties
• Previous grow-ops
• Rent-to-own contracts
• Farms
• Mobile homes and/or manufactured homes
• Rental pools
• Cooperative housing
• Indigenous reserve land