Flexible equity, flexible down payments - all the flexibility you want!
Provides more flexibility and customization than any other Conexus mortgage, with the ability to decide:
Fixed rate or variable rate
Open or closed
Customized payment schedule
And much more!
Flex Feature Mortgage terms & conditions
Fixed rate closed only
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 or at mortgage renewal, a prepayment penalty may apply
Fixed rate open only
Can be adjusted on open term as no penalty applies
Variable rate closed only
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 or at mortgage renewal, a prepayment penalty may apply
Your payment amount remains the same but the amount that is applied to interest and principal may change. If rates go down, more of your payment is applied to the principal balance owing.