How long is a fixed rate mortgage?

What is a fixed-rate mortgage? A fixed-rate mortgage has an interest rate that stays the same for an agreed period of time. The fixed period is generally between two and five years, although it is possible to get a fixed term of up to 10 years or more.

What’s the catch with refinancing?

The catch with refinancing comes in the form of “closing costs.” Closing costs are fees collected by mortgage lenders when you take out a loan, and they can be quite significant. Closing costs can run between 3–6 percent of the principal of your loan.

Why choose a president’s Choice Mortgage?

People who choose a President’s Choice Financial mortgage never have to haggle to get our lowest rates. Plus it’s easy to apply over the phone, the Internet or at an in-store pavilion.”

Which bank has the best mortgage rates in Canada this fall?

This fall, President’s Choice Financial as committed to giving the best mortgage rates in the country – guaranteed to beat the same mortgages found at the big five banks. Until Oct. 31st, PCF guarantee that Canadians won’t find a lower rate on a five to ten-year standard fixed rate mortgage at any of the big five banks.

Does PC financial offer special mortgage rate discounts?

• PC Financial offers special mortgage rate discounts to borrowers who take out a fixed-rate 5-, 7-, or 10-year mortgage with a principal of at least $200,000. To qualify for a PC Financial mortgage, you will first need to access the bank’s mortgage application by clicking on the interest rate you prefer on this page.

Should you choose PC Financial for your variable-rate mortgage?

Still, PC Financial offers some excellent prepayment options to pay off your variable-rate loan faster and without a penalty. You can prepay up to 20 percent of your original loan balance each year without incurring extra fees. With all of the mortgage options you have today, it helps to understand why you should choose PC Financial.