Borrowing

WealthONE Residential Mortgage

A WealthONE Residential Mortgage provides flexible payment terms, fixed or variable rates and pre-payment privileges to suit your needs

Features & Benefits

  • Borrow up to 95% of the property value
  • Market competitive rates, fixed or variable
  • Flexible payment terms, closed: 1 to 7 years, 10 years or open: 1 year open term
  • Payment frequency of monthly, semi-monthly, bi-weekly or weekly
  • Up to 30 years amortization
  • Closed mortgages: Pre-pay up to 20% of 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

Types of Mortgage

Type

Description

How does it help you

Interest Rates

Fixed Rate Your 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 rate changes with interest rate when Wealth One Bank of Canada's prime rate changes. Your are comfortable with interest rate fluctuations.

Terms

Closed Term Requires you to make set payment at set times. A closed term doesn't provide for payout before maturity. Interest rates are typically lower than for an open mortgage. Prepayment options are available to assist you to pay off your mortgage faster.
Open Term Requires you to make set payment at set times. You are allowed to prepay any amount towards your mortgage at any time. You anticipate paying out your mortgage before the end of the term.

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 confusing maze of financial jargons, options and mortgage documentation.
  • 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 provide 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.