APR Disclosure:
Posted Rates
1 Year Open 8.19% = 8.32% APR
6 Month Fixed Closed 7.99% = 8.27% APR
1 Year Fixed Closed 7.79%= 7.92% APR
2 Year Fixed Closed 7.24% = 7.30% APR
3 Year Fixed Closed 7.04% = 7.08% APR
4 Year Fixed Closed 6.79% = 6.82% APR
5 Year Fixed Closed 6.99% = 7.02% APR
5 Year Fixed Closed Special 6.69% = 6.72% APR
The Annual Percentage Rate (APR) is based on a $300,000 mortgage, 25 year amortization, for the applicable term and the fee to obtain a property appraisal of $325 (fees vary from $0 to $455). If there are no fees, the APR and interest rate will be the same. APR is rounded to two decimal places. Terms and Conditions apply.
Mortgage:
On approved credit, rates are subject to change without notice. Quoted rates are based on blended payments of principal and interest. Interest is calculated half-yearly, not in advance. Additional premiums may apply in cases of a refinance, amortizations greater than 25 years, non-owner occupied, or other instances where application details may warrant it. The interest rate with variable rate mortgages will fluctuate with motusbank Prime Rate, which is currently 7.20%. Where applicable, the Bank of Canada qualifying rate is 5.25%. Builder's pricing applies to posted rates, not to promotional or special rates.
A High Ratio mortgage applies when you have a down payment of less than 20% to put toward the purchase of a home. Refinances, renewals and amortization periods of greater than 25 years are ineligible.