Mortgage types

Mortgage types

We can help you choose the mortgage type that suits you best. A few of the most common:


These mortgages can have fixed rates, or variable rates (which adjust with Bank of Canada Prime interest rates). To qualify for a conventional mortgage, you must have at least 20% of the purchase price of the home as your down payment.


If you have less than 20% of the total purchase price as a down-payment, you need a high-ratio mortgage. These mortgages must also be insured.


You can repay part or all of this mortgage any time without any prepayment fees.


A closed mortgage usually has a lower rate than an open mortgage. You can pre-pay up to 20% of the original mortgage amount. But there are costs to pay out early, renegotiate or refinance before the end of the mortgage term.

Find out about more types of mortgages or give us a call to inquire about the best mortgage to suit your needs.