TYPES OF MORTGAGES Closes mortgages Closed mortgages generally have prepayment options of up to 20% of the original mortgage amount. If you decide to pay out, renegotiate or refinance before the end of the term of a closed mortgage, prepayment costs will be applied....

Type of Mortgage Interest Rates Fixed rate mortgages A fixed interest rate does not fluctuate during the mortgage term. This option allows your payment to remain constant so you know exactly how much you will pay every month and the amount you will have paid off at...

SELECTING THE RIGHT MORTGAGE The right mortgage for you isn't necessarily the one that offers the lowest rate, but rather a complete package of terms, conditions, rates and fees that fit your specific short- and long-term financial goals. A Mortgage Centre specialist...