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**
4.85%

 

Have a question? Ask an expert

Adam Franklin
Financial Advisor
Mutual Funds Investment Specialist

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