A division of Apex Mortgage
Loan Types
Meeting Your Financing Needs
Fixed Rate Mortgage
With a Fixed Rate Mortgage your interest rate and payments stay the same for the duration of your term. If you need to break the term of the mortgage, the penalties are higher than that of a variable rate mortgage. It’s easy to get lost while navigating all the different types of mortgage loans available. The Fixed Rate Mortgage could be the right one for you. Contact me now in order to discuss the benefits and disadvantages, and together we’ll decide whether this is the right mortgage for you.
Variable Rate Mortgage
The Variable Rate Mortgage (VRM) tends to have lower interest rate than fixed rate mortgages. Though usually a lower interest rate the VRM is susceptible to market changes. This means that when the Bank of Canada increases its Prime Rate, your mortgage interest rate and potentially your payments go up as well. Contact me to find out if you’re eligible, and whether this would be a good fit for your needs.
