2.39% 5 year fixed rate Ontario

September 12th, 2019Best Mortgage Rates

2.39% 5 year fixed rate mortgage

Take advantage of today’s best mortgage interest rates with a 2.39% 5 year fixed rate in Ontario.

Interest savings is $3284.30. Based on a $350,000 mortgage, 25 year amortization and a 2.39% versus a 2.59%.

 

What would you do with over $3000?

 

For those buying a home in Ontario with less then 20% down, take advantage of a 2.39% now.

If your mortgage is over $250,000 you also get a $500 cash back on closing.

Buy your dream home today with less down payment and a lower rate.

With a high ratio mortgage, one with less then 20% down, you can buy a home with as little as 5% of the price as a down payment. Take advantage of a 2.39% 5 year fixed rate in today.

A fixed rate mortgage allows you to lock in a rate for a certain period of time.

Learn more: Fixed rate mortgages

 

Contact me today to learn more about the 2.39% 5 year fixed rate mortgage

 

This mortgage allows 20% pre payment privileges.

Learn more: Prepayment privileges

It also comes with a skip-a-payment option.

 

5 year fixed rate pros:

With a 5 year fixed rate you get to lock in the rate for 5 years. This helps you with budgeting as you know exactly what your payment is each month. The payment will not change like a variable rate mortgage payment can. You can however increase the payment if you would like to help pay the mortgage off faster.

 

5 year fixed rate cons:

If rates decrease during the 5 year term, you would have to break your current mortgage in order to take advantage of the current best mortgage rates. Some lenders will charge a penalty to break a mortgage.

 


Learn more about other mortgage rates in Ontario

Term                                                                                                             Rate
1-year insured as low as                                                                                   2.79%
2-year insured as low as                                                                                  1.99%
3-year insured as low as                                                                                  2.79%
4-year insured as low as                                                                                  2.69%
5-year insured as low as                                                                                  2.39%