Not all Variable Mortgages are created equal. Here are some terms that I have found to fluctuate from lender to lender:

Will they set the payment at the actual discounted rate or a higher rate to compensate for fluctuations in Prime?

Will they allow you to break the mortgage with a standard 3 month interest penalty? Will they permit a 5 year term?

Will they use the 5 year benchmark rate to qualify the mortgage? Will they use actual payments on unsecured debt or compensate for 3% minimums.

Each one of the above can make the difference of being approved for a mortgage and/or cost you thousands in extra fees down the road. Using our services ensures you receive the best terms and conditions to suit you.

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