Fixed Rate Mortgage

A fixed rate mortgage is a mortgage with an interest rate that is set (fixed) for a predefined period of time. The upside is you'll know exactly what you will have to pay on your mortgage for the whole period that the fixed rate applies. Enjoy the security of knowing how much of your mortgage will be paid off at the end of your term.

Fixed rate mortgages are ideal if you are on a fixed income, if you plan to stay in the property for some time, or if you simply prefer fixed repayments for easier budgeting. 

Community First offers both open and closed fixed rate mortgages

Open Fixed Rate Mortgage Expand/Collapse

Conventional & High Ratio

A fixed rate open mortgage has an interest rate that is set for a predefined period of time. So you will know exactly what you will have to pay on your mortgage for the whole period that the fixed rate applies. You can also enjoy the security of knowing how much of your mortgage will be paid off at the end of your term. With an open mortgage you can repay it any time in full or in part without penalty.

Rate

Fixed 

Term
1 Year

*Contact your branch for information regarding special features, repayment, eligibility, securitization, mortgage protection, and renewability.

Fixed Rate Mortgage Expand/Collapse

Conventional & High Ratio

If you are looking for a mortgage that makes payments more predictable and budgeting easier, a fixed-rate mortgage could be the right choice for you. With a fixed-rate mortgage, you get the same interest rate for the entire term of the mortgage, so you can count on making the same payment every month.

You may also be eligible for a cash back option of up to 5% of the value of your mortgage. You can use this cash reward for home renovations and other home-related expenses, to pay down higher interest debt, or anything else you choose. 

Rate
Fixed 

Term
1-7 Years

*Contact your branch for information regarding special features, repayment, eligibility, securitization, mortgage protection, and renewability.

Fixed Rate Second Mortgage Expand/Collapse

Conventional

A second mortgage is a secured loan that sits behind an existing mortgage – which means the first mortgage will be left untouched – but lets you extract equity from your property. A second mortgage can help you get rid of high-interest debt, complete renovations, improve your credit score, and more. 

Rate
Fixed

Term
1-3 Years 

*Contact your branch for information regarding special features, repayment, eligibility, securitization, mortgage protection, and renewability.

 

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