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Take advantage of today’s best mortgage interest rates with a 2.24% 5 year fixed rate in Ontario.
Based on a $350,000 mortgage, 25 year amortization and a 2.24% versus a 2.64%, the interest savings is $6563.44 over the 5 year term.
For those buying a home in Ontario with less then 20% down, take advantage of a 2.24% now.
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 2.24% 5 year fixed rate today.
A fixed rate mortgage allows you to lock in a rate for a certain period of time.
Learn more: Fixed rate mortgages
This mortgage allows 20% pre payment privileges.
Learn more: Prepayment privileges
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 may. You can however increase the payment if you would like to pay the mortgage off faster.
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
Mortgage brokers in Ottawa can assist you with finding you not only the best mortgage rate but with finding you a mortgage that has the best options for your needs. With access to dozens of lenders from banks, to credit unions to internet lenders, you can rest assured that you will get a great mortgage at a fair rate. Contact me to learn more about this current promotion. Some conditions apply.
Published 2019/09/12
Andrew Thake is a seasoned mortgage broker with over 15 years of industry experience. He’s assisted more than 2,200 clients in finding their ideal mortgage solutions. Recognized for his excellence, Andrew has received high honours and awards, including the National Rookie of the Year from TD Canada Trust and recognition as a Top 10 Ottawa Mortgage Broker in 2023. He has also been inducted into the Hall of Fame at Dominion Lending Centres and has consistently received their Platinum Award during his tenure as a mortgage broker.
Andrew’s dedication lies in serving his clients and prioritizing their needs with an empathetic approach. Throughout the application process, he provides tailored, informed, and efficient services to ensure the best mortgage solutions for his client’s unique circumstances. The best part of Andrew’s job is when he gets to see the joy on his clients’ faces following their mortgage approval.
