Money-Saver Mortgage

If your priority is to get a low mortgage rate, then our Money-Saver Mortgage is for you.

Get a reduced rate automatically

The Money-Saver Mortgage is a 5-year term loan with a variable interest rate based on the 3-month term rate reduced of 0.35%.

Your rate and your mortgage payment are adjusted every three months according to the fluctuations of the rate in effect. If you wish, you can always convert to a fixed rate for the remainder of your commitment, without penalty.

How much do you save?

In the medium-term and long-term, the Money-Saver Mortgage lives up to its name, as the following table shows.

Example (without the promotional offer)

$ 150,000 mortgage with a 25-year amortization period and a 5-year term

As the example shows, the Money-Saver mortgage allows you to repay more quickly your principal. In five years, you repay $1,521 more on your mortgage principal.

Take advantage of convenient payment

• The rate is adjusted every quarter for a 5-year term, with a 0.35% reduction on the 3-months rate.
• You can at any time convert your mortgage to a fixed rate for the remainder of your commitment with no penalty.
• At each renewal, a mortgage statement is automatically sent to you, confirming the rate and the amount of the new payments.
• The Money-Saver mortgage can be included as one of the portions of the Multi-Choice option.
• Repay your mortgage through automatic debits.
• Prepayment options available on request.

Opt for comprehensive coverage³

If you wish, you can add life, critical illness⁴ or disability insurance to your mortgage. For your convenience, the premiums are debited automatically from your account.

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