Variable Open Rate Mortgage
With a monthly interest rate fixed to the credit union's prime, your payment on your principal can increase helping you pay down the principal faster. Enjoy the flexibility to switch over to our No-Nonsense Fixed Rate Mortgage® at any time you may choose.
Each month the rate is set at Provincial Alliance Prime rate, however your regular payment amount stays the same. If rates go lower, more of your payment amount goes toward the principal balance - making you mortgage-free sooner.
Features and Benefits
- Competitive rates based on Provincial Alliance prime
- Option to switch to a Fixed Rate mortgage at any time
- Fixed monthly payment
