6 Month Convertible - Fixed Rate Mortgage

Lock into a fixed rate now and convert to a longer closed term mortgage at any time without penalty.

Option to convert to a longer closed term at any time without penalty
With a fixed interest rate mortgage payments are guaranteed not to change for the entire length of the term
Uninsurable, high ratio and insurable financing available
Perfect if selling in the near future or undecided

6 Month Convertible Product Details
Purpose	Purchase, refinance or debt consolidation, Purchase Plus Improvements
Property Type	Owner-occupied (maximum 2 units)
Term	6 month convertible
Rate	See rate sheet for details
Loan Amount	$50,000 to $500,000
Maximum LTV	95% for purchases 80% for refinances and purchase
Down Payment	Gifted or from own resources
Amortization	Minimum 5 years Maximum 25 years
Payment Options	Monthly, semi-monthly, bi-weekly, weekly (accelerated)
20% + 20% Prepayment Privilege	Lump sum up to 20% of the original principal amount (minimum $100) 20% increase in payment, incremental fixed amount can be added to principal and interest payment
Early Payout	Early Payout Premium: Greater of 3 months interest or Interest Rate Differential Reinvestment Fee: $500 Can be converted to a longer closed term (greater than 6 months) at any time without penalty
Other	Available with Home Mortgage Protection (mortgage life insurance) Portable and assumable upon approval
Subject to change without notice.