5 Year Mortgage Rates
Term TypeRatePromo & Info
5 YearFixed (standard)2.49%
5 YearFixed (promo)2.29%-*call for restrictions
-High Ratio Only
-Meet property guidelines
5 YearFixed (promo)2.49% & -Condo Doc Review, Reimbursement $500 *call
5 YearVariable (promo)2.10%
* Subject to change without notice *OAC *Some Underwriting Restrictions Apply
Our Mortgage Rates
2 YearFixed2.19%
3 YearFixed2.29%
4 YearFixed2.39%**High Ratio Only
5 YearFixed2.29%**restricted, call for details
6 YearFixed2.99%
7 YearFixed2.99%
10 YearFixed3.54%

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You might wonder why in the world you would want to obtain or use a cash back mortgage after you just spend all this time saving  up for your down payment, right?. Good call, the cash back mortgage is not the right mortgage product for everyone and should only be considered if you have a use for the money you receive back from the lender after the completion of your mortgage.

Why might you want to entertain a Cash Back Mortgage?

  • You would like to use the 5% Cash Back Mortgage to apply against a really high rate on a credit card. For instance you have some outstanding debt on a department store card at 19.99%
  • You have a lot of room on your RSP contribution and you would like to contribute as much as possible and receive a tax credit. You could take the cash back and use it to get your RSP contribution to its max
  • You believe you can earn a rate of return on y our money that is greater than the cost of your mortgage interest rate. For Example: Your mortgage rate is 3.29% on a 5 year fixed rate, and your investment advisor feels he/she can earn you a rate of return exceeding 7 %. You might decide to take the cash back and invest it.
  • The home you are purchasing does need a little bit of TLC, and after your down payment you feel it would be too much of a stretch to do any repairs. As a result you obtain the cash back mortgage and use the cash back money to do the repairs you desire¬†NOTE: In this situation you may want to also consider the purchase plus improvements mortgage