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Quick Info & Resources
With "20+20" Prepayment Privileges, you can save thousands of dollars in interest costs by making small increases in your mortgage payments and prepaying some of the principal.
The First "20": Increase Your Mortgage Payments
Increase your mortgage payment (principal and interest) by up to 20% over the current payment. This option can be exercised once each calendar year, at any time, without charge. *
The Second "20": Make Lump Sum Payments
Prepay up to 20% of the original mortgage principal each calendar year. * This option can be exercised in minimum amounts of $100 without charge, some conditions apply.
Find out how much you can save with the "20+20" Prepayment Calculator.
How
much can I afford?
Payment
Calculator
Mortgage
Insurance Calculator
Open - Prepay as much as you want or completely pay out at any
time without charge.*
Closed - Make regular
payments (and/or limited prepayments).
Offers a lower interest rate than an Open Mortgage at the same term.
Convertible - Offers
a lower interest rate than the open mortgage
of the same term. Option to change to a closed term of one year or longer
without charge.**
Fixed - Interest rate stays constant to the end of the selected term.
Variable Rate - Interest rate fluctuates with the Bank’s prime lending rate and payments generally remain the same.
