Whether you’re a first time home buyer, looking to switch, or renewing your mortgage, you will be faced with the decision of choosing between a fixed rate mortgage or a variable rate mortgage.
The key differences between the types of mortgages are:
When choosing the type of mortgage for you, it is important to look at your financial circumstances and goals. Whether a fixed or variable mortgage is better for you really depends on what you value most: lower rate, flexibility or peace of mind.
Rate & Flexibility If you’re looking for the lowest rate, consider Cambrian’s Variable Closed Mortgage. Plus, you have the flexibility to convert to a Cambrian Fixed Rate Mortgage at any time without penalty.
Peace of Mind Some people prefer the security of knowing that their mortgage interest rate stays fixed throughout the mortgage term. In this case, a Fixed Rate Mortgage may be a better option for you.
Full Flexibility A Variable Open Mortgage is perfect for people who are looking for the most flexibility with their mortgage. If you are uncertain how long you will be staying in the home or want to make changes to your mortgage in the near term, without paying a penalty, then Cambrian's Variable Open Mortgage might be a great fit for you.
We would be happy to discuss your unique situation with you.
Our goal is to make complex topics like this one, simple.
It takes less than 5 minutes to make an appointment or to apply online. It is up to you how you want to meet your advisor - you will have the option to meet your advisor:
