Choosing Your Mortgage

There are different types of mortgages and we will help you select the best option for your needs.

Fixed Rate

This mortgage has a locked-in interest rate that will not increase for the term of the mortgage. Your payments are outlined at the start of the mortgage and will not change.

Variable Rate

This mortgage has interest rates that fluctuate based on market conditions but the mortgage payment remains unchanged. As interest rates go down, you pay more against the principal of the loan. As rates go up, your principal payments decrease.


Hybrid or 50/50 mortgages are part fixed and part variable. No one can predict interest rates and this option may appeal to you because it offers diversification, which reduces risk.

Open Mortgage

This is a flexible mortgage that allows you to pay part of the principal off before the end of the mortgage term.

Closed Mortgage

In some cases, a closed mortgage cannot be paid off, in whole or in part, before the end of its term. In other cases, the lender may allow for partial prepayment in the form of an increased mortgage payment or a lump sum prepayment. However, any prepayment made above stipulated allowances may incur penalty charges.