Borrowing

Wealth One Residential Mortgage

A Wealth One Residential Mortgage provides flexible payment terms, fixed or variable rates and pre-payment privileges to suit your needs

Borrow up to 95% of the property value
Market competitive rates, fixed or variable
Flexible payment terms, closed: 1 to 7 years, 10 years or open: 1 year open term
Payment frequency of monthly, semi-monthly, bi-weekly or weekly
Up to 30 years amortization
Closed mortgages: Pre-pay up to 20% of principal each year, and/or increase your payment up to 20% of the original payment amount each year
Eligible for rental/investment properties
Portable/Assumable

	Type	Description	How does it help you
Interest Rates	Fixed Rate	Your rate is fixed for the term of your mortgage.	You have the peace of mind to know exactly what your interest rate and mortgage payments are during the term of your mortgage.
Interest Rates	Variable Rate	Your rate changes with interest rate when Wealth One Bank of Canada's prime rate changes.	Your are comfortable with interest rate fluctuations.
Terms	Closed Term	Requires you to make set payment at set times. A closed term doesn't provide for payout before maturity.	Interest rates are typically lower than for an open mortgage. Prepayment options are available to assist you to pay off your mortgage faster.
Terms	Open Term	Requires you to make set payment at set times. You are allowed to prepay any amount towards your mortgage at any time.	You anticipate paying out your mortgage before the end of the term.

No matter where you are in your borrowing needs, we are here to provide relevant solutions.

New Purchase: Whether you are a first time or repeat home buyer, we will help you through the confusing maze of financial jargons, options and mortgage documentation.

Mortgage Transfer: Renewal time is a great opportunity to take another look at your mortgage options based on your current and future needs. Switching your mortgage to Wealth One Bank of Canada is an easy choice with service you can depend on. Reassess your borrowing needs and choose the right mortgage, terms, rates and payment options to suit your needs.

Mortgage Refinance: You may want to use the equity in your home for renovations, purchase another property or to buy a car. A wealth One Residential Mortgage allows you to borrow against the equity value of your home and provide you with more lifestyle flexibility.

What size mortgage can you afford in order to purchase a new property? What kind of mortgage suits your unique situation?

You can use our Mortgage Calculator to help you work out the detail of your financial plan to reach your goals.