Full repayment flexibility and savings potential

A Variable Rate Mortgage can save you thousands of dollars in interest costs over the life of your mortgage. Choose from a Closed Mortgage where payments above those regularly scheduled are restricted, or an Open Mortgage, where you have complete payment flexibility. 

Variable Rate Closed Mortgage

A great rate and potential savings.

  • Best interest rate in BlueShore Financial's suite of mortgage solutions
  • Potential to save thousands of dollars in interest costs over the life of the mortgage
  • Manage your cash flow with mixed payments
  • Pay down option at time of mortgage anniversary
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Our Variable Rate Closed Mortgage can save you thousands of dollars in interest costs over the life of your mortgage, since your rate is tied to Prime. When market interest rates fall, so will your mortgage rate. Should they rise, you can sit tight and wait it out, or you can convert it in to a 3, 4 or 5 year Fixed Rate Closed Mortgage.

This mortgage offers the lower interest rate of any BlueShore Financial mortgage as well as the flexibility of term lengths ranging up to 5 years.

TermUp to 5 years
Payments
  • The rate is variable, but the payments are fixed. What changes is the amount that goes toward reducing your mortgage principal
  • Choose the payment frequency — weekly, bi-weekly, semi-monthly or monthly — to suit your cash flow
  • Up to 15% of the original principal can be paid down each year on the mortgage anniversary date
  • Scheduled payments can be increased, on an ongoing basis, by up to 15% once each calendar year
Rate
  • Rate is variable and tied to Prime
  • Convert to a fixed rate term of 3, 4 or 5 year anytime
AmortizationUp to 25 years (standard); longer amortizations available - talk to your advisor
FinancingUp to 80% of the value of your property; up to 95% if insured by a third party such as CMHC

 

Variable Rate Closed Mortgage*Rates
5 Year**
5.35%

 

Variable Rate Open Mortgage

Savings potential and full repayment flexibility.

  • Potential to save money over the life of the mortgage
  • Rate is tied to Prime
  • Manage your cash flow with fixed payments
  • Make additional payments or pay off your mortgage at any time, without a fee – no strings attached
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Our Variable Rate Open Mortgage can save you thousands of dollars in interest costs over the life of your mortgage. Your interest rate is tied to Prime, so when market interest rates fall, so does your mortgage rate. Should rates rise, you can sit tight and wait it out, or lock in to a fixed rate mortgage at any time.

Save even more by taking advantage of full repayment flexibility; make additional payments at any time to reduce your mortgage. This is a smart choice if you expect to have additional cash - commissions, bonuses, or even an inheritance – to pay down your mortgage.

TermUp to 5 years
Payments
  • The rate is variable, but your payments are fixed. What changes is the amount that goes toward reducing your mortgage principal
  • Choose the payment frequency — weekly, bi-weekly, semi-monthly or monthly — to suit your cash flow
  • Increase the frequency or amount of your payments, or pay off your mortgage completely without a fee
AmortizationUp to 25 years (standard); longer amortizations available - talk to your advisor
FinancingUp to 80% of the value of your property; up to 95% if insured by a third party such as CMHC

 

Variable Rate Open Mortgage*Rates
5 Year
8.00%

Split Rate Mortgage

The best of both worlds: savings and security.

  • Security of a fixed rate with the potential cost savings of a variable rate
  • Choose the balance between fixed and variable rate that's right for you
  • Pay-down option at time of mortgage anniversary
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Tempted by the potential cost savings of a variable rate mortgage, but not completely confident interest rates will stay low over the term of your mortgage? A Split Rate Mortgage may be for you.

Our Split Rate Mortgage combines the security of a fixed rate mortgage with the potential cost savings of a variable rate mortgage. Your mortgage is split so that part is based on a variable rate tied to Prime, part on a fixed rate. The mix is completely flexible; 50/50, 30/70… you decide, based on your comfort level and tolerance for risk.

Term6 months to 10 years
Payments
  • Choose weekly, bi-weekly, semi-monthly or monthly payment frequency to suit your cash flow
  • Up to 15% of the original principal can be paid down each year on the mortgage anniversary date
  • Scheduled payments can be increased, on an on-going basis, by up to 15% once each calendar year
Rate
  • You choose the ratio of variable to fixed portions of the mortgage
  • While a portion of the mortgage rate is variable, your payments are fixed — what changes is the amount that goes to reduce your mortgage principal
  • Convert entirely to a fixed rate mortgage at any time
AmortizationUp to 25 years (standard); longer amortizations available - talk to your advisor
FinancingUp to 80% of the value of your property; up to 95% if insured by a third party such as CMHC

Split Rate Mortgage*Rates
Split Rate Mortgage
Rate based on the fixed and variable rate for the term selected

Have a question? Ask an expert

Adam Franklin
Financial Advisor
Mutual Funds Investment Specialist

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