Borrowing

WealthONE Residential Mortgage

A WealthONE Residential Mortgage provides flexible payment terms, fixed or variable rates and pre-payment privileges to suit your needs. Our tailored mortgage solutions are especially suitable for self-employed and high-networth individuals, multi-condo buyers and individuals who have overseas income (mainland China and Hong Kong). 

Features & Benefits

  • Borrow up to 90% of the property value
  • Market competitive rates, fixed or variable
  • Fixed: 1 to 5 years, or Variable: 3 years or 5 years
  • Payment frequency of monthly, semi-monthly, bi-weekly or weekly, with accelerated options
  • Up to 30 years amortization
  • Closed mortgages: Pre-pay up to 20% of original principal each year, and/or increase your payment up to 20% of the original payment amount each year
  • Eligible for rental/investment properties
  • Portable/Assumable

Find out which Mortgage is Right for you!

Type

Description

How does it help you

Interest
Rates

Fixed Rate Your interest rate is fixed for the term of your mortgage. You have the peace of mind to know exactly what your interest rate and mortgage payments are during the term of your mortgage.
Variable Rate Your interest rate changes when Wealth One Bank of Canada's prime rate changes. You are comfortable with interest rate fluctuations.

Terms

Closed Terms Requires you to make set payments at set times. A closed term mortgage does not provide for payout before maturity, except for permitted prepayments. Interest rates are typically lower than rates for open mortgages. Prepayment options are available to assist you to pay off your mortgage faster. You can pre-pay up to 20% of original principal and/or increase your payment up to 20% of original payment, annually.1

1You are not able to pay more than the permitted prepayments without incurring a prepayment charge.

No matter where you are in your borrowing needs, we are here to provide relevant solutions.

  • New Purchase: Whether you are a first time or repeat home buyer, we will help you through the maze of mortgage terms and options.
  • Mortgage Transfer: Renewal time is a great opportunity to take another look at your mortgage options based on your current and future needs. Switching your mortgage to Wealth One Bank of Canada is an easy choice with service you can depend on. Reassess your borrowing needs and choose the right mortgage, terms, rates and payment options to suit your needs.
  • Mortgage Refinance: You may want to use the equity in your home for renovations, purchase another property or to buy a car. A Wealth One Residential Mortgage allows you to borrow against the equity value of your home and provides you with more lifestyle flexibility.

Mortgage Calculator

What size mortgage can you afford in order to purchase a new property? What kind of mortgage suits your unique situation?

You can use our Mortgage Calculator to help you work out the detail of your financial plan to reach your goals.