Fixed Rate

Fixed rate mortgages are designed to guarantee your mortgage payments for the entire length of your term. This is especially beneficial for those who are on a fixed budget and those who want to be able to definitively plan their long-term financial future. Terms for fixed rates vary in length, the most common being 3, 5 and 10 years.

Variable Rate

Variable rate mortgages fluctuate with the Prime rate. More appropriate for those who are willing and able to have their payments change slightly over time, in today’s market variable rate mortgages are an attractive option for the more adventuresome borrower. Variable rate mortgages do have the option of locking into a fixed rate should you decide that you require fixed payments for the remainder of your term.