Mortgages
Turn your dream into your dream home
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Find the mortgage to match your needs
Variable Mortgage
Perfect for you if...
you are looking to take full advantage of changing interest rates. It allows you to convert to a fixed rate mortgage with a term of 3 years or longer, without penalty.
Key features
- Variable Rate Mortgage rate is based on Prime
- Payments can be fixed for up to 2 years. However, the interest may change from month to month depending on the market conditions
- Flexibility to convert, at any time, to a fixed rate mortgage with a term 3 years or longer, without penalty
- Interest is compounded "not in advance" which means interest is charged each month. It is charged each month instead of adding the total cost of interest to the mortgage, in the beginning. As a result, the owner will pay less interest
- Owners with existing mortgages up for renewal can have the option to convert to a Variable Rate Mortgage
- If you pay off your mortgage or renew early there is a 3-month interest penalty or $1000 whichever is greater
Closed Mortgage
Perfect for you if...
You are looking to save money with open prepayment option after first year. Convenient weekly or bi-weekly payment schedules can actually save thousands.
Peace of mind with low-cost life, disability and job loss insurance for single or joint coverage.
KEY FEATURES
- Flexible repayment term - choice of amortization
- Renewal terms of 6 months to 7 years
- Choice of Closed/Open mortgage
- Competitive rates
- Pre-approvals available
- Open option after first year: extra payments, and payment in full are permitted without penalty, from owner's own funds
- Maximum amortization - 25 years
- Semi-annually or monthly statement with a chequing account
- Financing Available: 95% with CMHC insurance
- Payments via payroll deductions, automatic transfer from Caisse populaire de Clare account, or Automatic Funds Transfer from another institution
- Property taxes: Can be collected and paid each year by Caisse populaire on behalf of the owner upon request.
Get your mortgage your way
Not sure which mortgage is right for you?
We’ll be happy to help you pinpoint the option that best suits your needs.
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Take a look at the latest, competitive rates on offer for our mortgage solutions.
Thinking of buying a home? Try our calculator to find the mortgage to fit your budget.
Level up your financial know-how
Guide to homebuying
Purchasing a home is no easy task. Our guide is your one-stop, go-to resource for all things homebuying.
How to ace the stress test
With a little preparation, you can get top marks on your mortgage stress test when the time comes to buy your first home.
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Copyright 2024 Caisse Populaire de Clare. All rights reserved.
Copyright 2024 Caisse Populaire de Clare. All rights reserved.
