What is a Flex Feature Mortgage?
Our Flex Feature Mortgage gives you the ability to choose between fixed and variable rates, open or closed plans and to set the repayment schedule that best suits your lifestyle. It also has extra features like the ability to pay off your mortgage faster or skip-a-payment if needed. In short, our Flex Feature Mortgage puts you in control and gives you the power to customize your ideal mortgage solution.
If you're the type of person who values flexibility and choice, this mortgage option may be a perfect fit for you. Our Flex Feature Mortgage is best for those who value flexibility over all else. While you may not always be guaranteed the lowest possible rate with a Flex Feature Mortgage, you will be guaranteed the freedom and flexibility to choose how this mortgage works for you.
Why choose a Flex Feature Mortgage?
Extra features
Enjoy extra flexibility with options to pay faster, skip payments and more throughout your term.
Flexible terms
Choose an open or closed term based on your goals, repayment plans and financial needs.
Flexible repayment schedules
Choose a payment schedule that fits your needs, from monthly to accelerated bi-weekly options.
At a glance.
Everything you need to know about the Flex Feature Mortgage before you apply.
Feature | Details |
|---|---|
Rate type | Fixed or variable |
Term | Open or closed |
Prepayment privilege (closed term only) | Up to 20% of original mortgage amount annually |
Payment increase (closed term only) | Up to 20% once per calendar year |
Skip-a-payment | Available |
Rate guarantee | Up to 120 days — no commitment required* |
Available on | Purchase Plus Improvements Program (6 months to 5 years) |
Lock in your rate before you buy.
Planning to buy a home soon? Our 120-day rate guarantee* gives you confidence knowing your mortgage rate is protected while you search for your new home.
Is this mortgage right for you?
Right for you if you:
- Value flexibility. Since a Flex Feature Mortgage gives you options when it comes to rates, term lengths, and repayment schedules, it’s ideal for those who enjoy calling the shots.
- Don’t like feeling locked in. Choosing an open term, fixed rate means you won’t be locked into a set payment amount for the duration of your term.
- Value stability. Choosing a closed term, fixed rate means your repayment amounts will be stable and predictable, an appealing option for those who don’t love surprises.
May not be right for you if you:
- Prefer savings over choice. Our Flex Feature Mortgage offers supreme flexibility, but this means it usually doesn’t offer the lowest rate. If you want our lowest rate mortgage, consider our Value Mortgage.
- Want to make lump sum payments. Our Flex Feature Mortgage offers the opportunity to increase your payment amounts just once per year (to a maximum of 20%). This means you can’t make unscheduled lump sum payments when and if the opportunity arises.
Today's rates
Term
5 year closed
4 year closed
3 year closed
2 year closed
1 year closed
6 month closed
1 year open
6 month open
Term
5 year variable closed
4 year variable closed
3 year variable closed
2 year variable closed
1 year variable closed
Tools to help you plan your mortgage.
Common questions.
Here’s what people ask us the most.
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You can choose from a range of term options from 6 months to 5 years, depending on whether you select an open or closed term and what best fits your financial goals.
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If you choose a closed term, you may prepay up to 20% of your original mortgage amount annually. However, if prepayment was not set up at time of application or mortgage renewal, a prepayment penalty may apply.
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Yes. Flex Feature Mortgage options may include features that allow you to make extra payments and pay down your mortgage faster.
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A Mobile Mortgage Specialist or Financial Advisor can help you understand your options and choose a mortgage that aligns with your financial goals.
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A Flex Feature Mortgage gives you more choice and flexibility with options for your mortgage rate, term, payment schedule and additional features.
Let's connect.
Our Mobile Mortgage Specialists are here to walk you through your options — at home, at the office or virtually. Book a time that works for you and let’s find your ideal mortgage.
