Simply the most Effective Mortgage Product available to you!
Here's how it works:
The mortgage is based on a 5 year term however only the first three years are closed. Years 4 and 5 are completely open with absolutely no pre payment penalty. As an introduction the first three months are set at Error processing SSI file
%. After this great initial rate your payments are based on PRIME less .40% for the remainder of the term.
Prime Rate Today is 3.50%
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 Alberta Equity 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 an above your normal monthly payments. The VARIABLE RATE MORTGAGE happens to have one of the best prepayment plans. Prepay up to 15% of your mortgage, without penalty on an annual basis. You also have the ability to DOUBLE your monthly mortgage payment on any payment date.
There has never been a better time to take advantage of the VARIABLE RATE MORTGAGE. It is the best alternative to a standard closed mortgage
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