Worry-free! You get the lowest possible fixed rate:
- Security of knowing your interest rate won’t rise over the term
- 20/20 prepayment privileges
- Weekly, bi-weekly, semi-monthly or monthly payments
5 Year Closed
If you are looking to budget with certainty, a Fixed-Rate Closed mortgage is for you.
|6 month closed||4.00%|
|1 year closed||2.94%|
|2 year closed||2.84%|
|3 year closed||3.55%|
|4 year closed||4.19%|
|5 year closed||4.79%|
- Valid fire insurance and assignment is required for the secured property
- Property tax accounting service is offered at no cost5
- Cost of credit and any fees will be disclosed at time of approval
- Optional life, disability, loss of employment (GMP rider) and critical illness (GMP rider) insurance is available6
- 20/20 prepayment privileges3
- Make payments weekly, bi-weekly, semi-monthly or monthly
- Accelerated payments may be weekly or bi-weekly4
- Early prepayment (other than 20/20 provisions) is subject to a penalty
The information provided is general in nature only. For complete details contact a Conexus Credit Union lending expert.
- Loan is for no more than 80% of the appraised value or purchase price (whichever is less). Down payment comes from your own financial resources. Amortization is maximum 30 years.
- Down payment amount is less than 20% of the purchase price (minimum of 5%). Must be insured by CMHC or Genworth (incurs a fee from issuer). Insurance fees can be paid up front or added to the loan. Amortization maximum is 25 years.
- You can prepay up to 20% of your original mortgage amount annually. In addition, the scheduled payment amount (principal and interest) may be increased up to 20% once per calendar year. Prepayment privileges are non-cumulative.
- If not set up at time of application a prepayment penalty may apply.
- Collection of property tax payments along with principal and interest payments may be a condition of mortgage approval.
- GMP (Group Mortgage Protection) is purchased separately through CUMIS.