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3-Year Convertible Mortgage
3-Year Closed Variable
This mortgage interest rate fluctuates with the prime rate while payments remain the same. If prime goes down, more of your monthly payment is applied to the mortgage. If prime increases, more goes to the interest.
Why choose the 3-Year Convertible Mortgage?
- Interest rate varies with prime, offering a lower rate than an open mortgage
- Your monthly payments stay the same for the term
- If you change your mind, you have the option to convert to 3, 4 or 5 year mortgage at
- You can still pay more towards your mortgage (up to 20% the principal) once a
on the anniversary date
- Available with up to $500,000 life and disability insurance
- Make this a Multi-Purpose Mortgage
3-Year Convertible Mortgage Rates
|Rates effective April 02, 2014||Interest Rate|
|3-Year Convertible - Closed||2.800%1|
All our mortgages come with our Haggle-free Guarantee. We’ve taken the negotiation out of the mortgage process, so we’ll automatically offer you the best rate possible based on your risk profile. You’ll find our Haggle-free Rates are very competitive. And you won’t have to work to get them.
1 For residential first mortgages only. Interest rate and approval based on risk profile. Additional fees may apply. Initial interest rate and the APR on a 3-year convertible, closed mortgage, compounded monthly. If fees or charges apply, the APR could increase. This is a variable rate product which will fluctuate with the Coast Capital Savings prime rate. Interest rates effective April 02, 2014 and subject to change without notice.