free templates joomla

Mortgage Poll

Which way do you think interest rates will trend in the next 6 months?

Integrated Mortgage Planners - GTA - Toronto

Week of September 21, 2020

This five-year fixed-rate mortgage is offered to purchasers who are putting down less than 20% of the purchase price (who are also called high-ratio borrowers). This product also comes with excellent terms and conditions.   

Closed Five-year Fixed Rate

  • Rate Hold - Deal must close within 120 days.
  • Use of Funds: Purchases only.

  • Prepayment Flexibility: Borrowers can make additional lump sum payments of up to 20% of their original balance throughout each year of their mortgage term and can also increase their regularly scheduled payments by up to 20%.
  • Maximum Purchase Price: $999,999.

  • Maximum Amortization Period: 25 years. 

  • Penalty Terms: This mortgage comes with a prepayment penalty of three months' interest.  

  • Portability: This mortgage is portable, provided that both transactions occur within 30 days of each other.

  • Additional Conditions: Available on mortgage amounts of $300,000 or more.    

Here is an illustration of what a $300,000 mortgage would look like using a 25-year amortization period (*assuming that the variable rate does not change over the term):

  Monthly Payment Opening Balance Interest Paid Over Term Balance at The End Of Five years

Five-year Fixed-rate Mortgage at 1.74%

$1,234 $300,000 $23,903 $249,922

If you would like to see what your mortgage payments would look like if you took advantage of this offer, try my mortgage calculator.

If you want to learn more about the powerful impact making extra payments can have on the long-term cost of your mortgage, check out my post called The Magic of 5%

To ensure that you don't miss out on this offer, call or This email address is being protected from spambots. You need JavaScript enabled to view it. today.