Connecting you to Canada's best mortgage rates

Français
Show Number 1-888-622-0452

The Mortgage Emporium Corporation
5-Year Variable Open Mortgage Rate

3.80%
The Mortgage Emporium Corporation
Rates Updated:  
Rate hold:        Rate hold The rate hold is the time period, between 30-120 days, before your mortgage renewal date you are able to lock in the current mortgage rate. If rates go down further within this period, however, many lenders will honour the lower rate. 90 days
Prepayment options:        Prepayment options Prepayment options outline the flexibility you have to increase your monthly mortgage payments or make a lump sum outlay against your mortgage as a whole. According to the Canadian Association of Accredited Mortgage Professionals (CAAMP), 28% of mortgage holders used one or both prepayment privileges in 2010.
Increase Monthly Payment by:        Increase Monthly Payment by The monthly mortgage payment is calculated based on the mortgage amount, amortization period and the associated mortgage rate. A general affordability rule is that your monthly housing costs should not exceed 32% of your gross household monthly income. 15%
Lump Sum:        Lump Sum Lenders allow you to put a lump sum payment against your mortgage each year ranging from 0%-25%. A 25% lump sum prepayment privilege would allow you pay your mortgage off completely in 4 years. 15%

See other great mortgage rates

More 5 years Rates More Variable Open Rates More From this provider

About The Mortgage Emporium Corporation

1400 Bayly Street, Unit 10 Pickering, ON L1W3R2

See more reviewsFeatured Reviews

The Mortgage Emporium was very prompt in the renewal of our existing mortgage. They also answered all of our questions and were very professional and friendly. We would be more than happy to refer them to friend or family.

-C. Blackett