FLEXIBLE
MORTGAGE
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Caisse Financial Group mortgages are more flexible to better suit your life.
Discover the many flexible features that our mortgages can offer you.
Double a payment
You have the option of doubling up a mortgage payment anytime you want. Making an extra mortgage payment now and then will save you interest costs and get you mortgage free faster. All you have to do is tell us when you want to double up a payment – it’s that easy.
Pay down your mortgage faster
You have the option of making one lump sum payment, of up to a maximum of 20% of the original mortgage amount, anytime during the year, without penalty. Most financial institutions will only allow a lump sum payment on the mortgage anniversary date; we say, why not let you do it whenever you can.
Example: Bob and Sue’s mortgage amount was $200,000 when they bought their home. Anytime during the year, they can decide to make one lump sum payment not exceeding $40,000, without penalty.
Skip a payment
You have the option of skipping a mortgage payment should you need to. You just need to contact us to make the necessary arrangements. Please note that there are restrictions on the number of times a payment can be skipped if your mortgage is CMHC insured.
Add on to your mortgage
We can set up your mortgage so that you can add to it when you need to finance a car, home renovations or other larger purchases. No need to renegotiate a new mortgage, just contact us and we can pre-qualify you and afterwards it is as simple as signing the new paperwork, plus you only need to make one loan payment.
Move your mortgage
Want to buy a new home but your existing mortgage is not up for renewal yet? No problem. You can transfer your existing Caisse mortgage to your new home, without penalty using a blended interest rate, and add on the new financing amount.
Build a brand new home
If you are building new, we can help you with our flexible builder’s mortgage that advances the funds as construction progresses, which saves you interest costs.
Low down payment
Your down payment can be as low as 5% of the purchase price of your home when you apply for a CMHC insured mortgage. Or you can avoid the CMHC insurance premiums if your down payment is 20% or more of the purchase price of your home.
No appraisal required
We make it easier and less costly for you by waiving the requirement for an appraisal if:
- you transfer your mortgage from another financial institution with no advance of additional funds
- you are financing less than 65% of your purchase price (some conditions apply)
- your mortgage is CMHC insured
Fixed Rate
Mortgage
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This mortgage offers a fixed interest rate so your mortgage payments remain the same throughout the term. This mortgage is closed, meaning that it cannot be paid off until the end of the term, unless you pay a penalty. Terms range from 1 year to 10 years.
Interest Rate
| 1 year | 5.45% |
| 2 years | 5.35% |
| 3 years | 4.65% |
| 4 years | 4.45% |
| 5 years | 4.35%** |
| 7 years | 5.25% |
| 10 years | 5.75% |
| **Indicates a special offer for a limited time. Some conditions apply. Contact your branch for details. |
Features
- Fixed interest rate
- Fixed mortgage payments
- Terms from 1 year to 10 years
Here’s how you can pay off this mortgage quicker
- An additional payment can be made every year without penalty, up to a maximum of 20% of the original amount of the mortgage, based on payment frequency.
- Mortgage payments can be doubled up any time without penalty.
- Choose bi-weekly or weekly payments instead of monthly payments.
Questions?
Contact a Financial Services Advisor.
The interest rate is for the length of the term. The annual percentage rate (APR) is equivalent to the annual interest rate (AIR).
Capped Variable Rate
Mortgage
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This mortgage offers a variable interest rate with the added protection of a maximum ‘cap rate.’
If interest rates decrease, your mortgage rate will decrease. However, if interest rates rise, your mortgage rate can never exceed the ‘cap rate.’
This mortgage is closed, meaning that it cannot be paid off until the end of the term, unless you pay a penalty.
Interest Rate
5.10%
Features
- Variable interest rate
- Cap rate: maximum interest rate you can be charged. The cap rate is established at the start of the term of the mortgage.
- Fixed mortgage payments
- Mortgage cannot be paid off in full until end of term
- 5 year term only
Here’s how you can pay off this mortgage quicker
- An additional payment can be made every year without penalty, up to a maximum of 20% of the original amount of the mortgage.
- Mortgage payments can be doubled up any time without penalty, based on payment frequency.
- Choose bi-weekly or weekly payments instead of monthly payments.
Questions?
Contact a Financial Services Advisor.
Variable Rate
Mortgage
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This mortgage offers a variable interest rate that can fluctuate up or down, which would be to your advantage if interest rates decrease. If interest rates rise, the interest rate on your mortgage will increase and your interest costs increase accordingly.
This mortgage is open which means that you can pay off the balance at any time without penalty.
Interest Rate
Starting as low as 5.95%
Features
- Variable interest rate
- Mortgage payments may increase if interest rates increase.
- Mortgage balance can be paid off at any time without penalty.
Here’s how you can pay off this mortgage quicker
- Make additional mortgage payments any time without penalty.
- Choose bi-weekly or weekly payments instead of monthly payments.
Questions?
Contact a Financial Services Advisor.
