Adjustable/Variable Rate Mortgage

There has never been a better time to take advantage of the variable rate mortgage. With prime at a near-all-time low, this is one of the most effective mortgage products on the market!

The variable rate mortgage is based on a 5 year term.

These numbers and terms sound great so far, but what if prime goes up? This brings up another great option, at any time without penalty you can convert into a closed mortgage 3 years or greater. When you decide to convert you automatically get mortgage broker wholesale rates not bank posted! You don't have to haggle with a branch manager; with The Mortgage Centre you get the best rate in Canada!

Best Prime Rate In 60 Years

Prepayment options are important to most mortgage holders. This gives you the ability to pay down your principal mortgage amount over and above your normal monthly payments. The Variable Rate Mortgage happens to have one of the best prepayment plans. Prepay up to 20% of your mortgage, without penalty on an annual basis. You also have the ability to DOUBLE your monthly mortgage payment on any payment date.

The Variable rate mortgage gives you the opportunity to save money while the prime lending rate is good and the comfort of knowing that when the time is right you can switch to a fixed mortgage.