Fixed-rate mortgages in Canada are almost always compounded semi-annually by law (Interest Act, s. 6). Variable-rate mortgages are typically compounded monthly.
Fixed-rate mortgages in Canada are almost always compounded semi-annually by law (Interest Act, s. 6). Variable-rate mortgages are typically compounded monthly.
2 Mortgage Default Insurance
Provided by CMHC, Sagen, or Canada Guaranty. Identical premium rates across all three insurers.
3 Extra Payments
Your minimum periodic payment
$0.00
before any extra payments
Extra Regular Payment
Added on top of your minimum payment each period
Lump Sum Prepayments
4 Rate Change at Renewal
Applies from end of first term through remaining amortization