Fixed Rate Mortgages
Find peace of mind in knowing exactly what your interest rate will be for the term of your mortgage with a President's Choice Financial® fixed rate mortgage1.Open Features
- Competitive Open dialogrates
- Up to 120 day rate guarantee2 so you can take the time to find your dream home
- Opportunity to earn Open dialogPC® points3 and turn your mortgage into free groceries and more (see more details below).
- Dedicated Mortgage Specialist to help you from the moment you find out how much you can afford, to the day you move in
- Convenient pre-approval contact options by go tophone, go toonline, or at a PC Financial go to pavilion
- Amortization options - up to a maximum of 30 years (25 years for CMHC insured mortgages)4
- FlexibleOpen dialog prepayment options on most mortgages to let you pay off your mortgage even faster
- Convenient weekly, bi-weekly, monthly, and semi-monthly payment frequencies available. You can also accelerate your weekly or bi-weekly payments which can save you thousands of dollars in interest over the life of your mortgage
- Take a break from your mortgage with our "Rainy Day" skip-a-payment option and skip one scheduled mortgage payment every year5
Ask us about a Secured Borrowing Account.
Apply between May 1 – July 15 and you could earn $150**. Conditions apply.
Call us at 1-866-236-9307 for more information.
Turn PC Financial fixed rate mortgages into free groceries with PC® points³. With our fixed rate mortgage, you'll earn 2,500 PC points for every full $1,000 of your total balance at the time of closing. On a $200,000 mortgage that would equal $500 worth of PC points for you to use towards groceries and more at go toparticipating grocery storesThis table lists the value of PC points on closing.
|Mortgage Amount||Value of PC points on closing|
Not all PC Financial mortgages are eligible for PC points. PC points values shown are based on grocery redemptions; not redeemable for cash.
How to Redeem your PC Points:
- You can begin redeeming once you have earned 20,000 PC points − that's $20 in free groceries! Or redeem higher amounts in further increments of 10,000 PC points.
- Just present your President's Choice Financial® MasterCard® or bank card at the check-out at go toparticipating grocery stores and tell the cashier that you're redeeming your PC points.
Take a look at today's rates:
|Term||Posted Rate (%)|
|Special** 2 year fixed:||2.24%i|
|Special** 4 year fixed:||2.67%ii|
Pay off your mortgage faster by taking advantage of the flexible prepayment options available on most PC Financial mortgages.
- Make lump sum payments of up to 20% of your original principal each year.
- Once each mortgage year, increase your scheduled payments by up to 25% of the payment amount you selected when you entered or last renewed the mortgage.
Creditor Life Insurance for President's Choice Financial Mortgages6 helps provide you comfort in knowing your family home will be protected in the event you pass away. Simply put, Creditor Life Insurance is an affordable way to help protect one of your largest financial obligations.
*This offer is only open to primary account holders who: (i) apply for a new President’s Choice Financial Secured Borrowing Account (“Eligible Account”) between May 1, 2017 and July 15, 2017; and (ii) pay a $150 set-up fee in respect of the Eligible Account. To participate in the offer, your Eligible Account must be open on or before August 31, 2017. You will earn $150 cash if you maintain an average daily closing balance in your Eligible Account of $30,000 or more between the date your Eligible Account is opened and the last day of the second (2nd) calendar month after the month that your Eligible Account is opened (the “Qualifying Period”) as follows: (i) an Eligible Account opened anytime in May 2017 must maintain a minimum average daily closing balance of $30,000 until July 31, 2017; (ii) an Eligible Account opened anytime in June 2017 must maintain a minimum average daily closing balance of $30,000 until August 31, 2017; and (iii) an Eligible Account opened anytime in July 2017 must maintain a minimum average daily closing balance of $30,000 until September 30, 2017; and (iv) an Eligible Account opened anytime in August 2017 must maintain a minimum average daily closing balance of $30,000 until October 31, 2017. Average daily closing balance is a calculation of the closing balance in a single Eligible Account at the end of each day, averaged over the Qualifying Period. Opening an Eligible Account is subject to credit approval and a $150 set-up fee for processing, appraisal and registration. $150 cash will be awarded to the qualifying primary accountholder in November 2017. To qualify for the offer, your Eligible Account must be open and in good standing throughout the Qualifying Period and also at the time the cash is awarded. Limit of one (1) $150 cash offer per customer. Account holders of President’s Choice Financial Secured Borrowing Accounts opened prior to May 1, 2017 or after August 31, 2017 are not eligible to participate in this offer. Cash will not be awarded in respect of Eligible Accounts for which the $150 set-up fee was waived. Offer and cash are non-transferable. This offer cannot be combined with other promotional offers. Offer may be revoked if you appear to be manipulating or abusing it, or are engaged in any suspicious or fraudulent activity, as determined by the provider of President’s Choice Financial personal banking services (the direct banking division of CIBC), in its sole discretion. Offer may be changed or cancelled without notice at any time. For more information, including current interest rates, visit www.pcfinancial.ca, speak to a representative at a President’s Choice Financial pavilion or hub, or call 1-888-723-8881.
**Special offers apply only to new mortgages of owner-occupied properties with an amortization of 25 years or less. Annual Percentage Rate (APR) is based on a new $400,000 mortgage for the applicable term and a 25-year amortization assuming a Property Valuation Fee of $250. Rates shown for the applicable term are PC Financial’s special discounted rates and are not posted rates of PC Financial. Offer may be changed, withdrawn or extended at any time, without notice. Offer cannot be combined with other offers and is not available on variable rate, basic or cashback fixed rate mortgages, existing PC Financial mortgages or mortgage renewals.
APR means the cost of borrowing for a loan expressed as an interest rate. It includes all interest and non-interest charges associated with the mortgage. If there are no non-interest charges, the annual interest rate and APR will be the same.
ii2.27% APR (Fresh Cut No Points only)
iii2.69% APR (Fresh Cut and Fresh Cut No Points only)
1Minimum principal amount for a President's Choice Financial mortgage is $35,000. Mortgages are subject to credit approval. Not available in Quebec.Conditions and restrictions apply; ask for details.
2120 day rate guarantee available upon mortgage pre-approval or approval. Not available for variable rate mortgage. 60 day rate guarantee is offered when refinancing your mortgage. Subject to change without notice.
3PC points are not earned with the variable rate,, Fresh Cut No Points, Basic or the 1.5%, 2%, 5% cash back fixed rate mortgages. Minimum redemption 20,000 PC points (worth $20 in free rewards) and in increments of 10,000 PC points thereafter at participating grocery stores where President's Choice products are sold. Some redemption restrictions apply; for details visit PC points are not earned with the variable rate,, Fresh Cut No Points, Basic or the 1.5%, 2%, 5% cash back fixed rate mortgages. Minimum redemption 20,000 PC points (worth $20 in free rewards) and in increments of 10,000 PC points thereafter at participating grocery stores where President's Choice products are sold. Some redemption restrictions apply; for details visit go topcpoints.ca.
4Amortization can be extended up to 30 years for uninsured mortgages only. The maximum amortization period for an insured mortgage is 25 years. Ask for full details.
5Rainy day option to skip a payment is available on all uninsured mortgages offered by PC Financial. Interest accrues during the skip-a-payment period. Must have clean repayment history for 6 months to qualify. Property must be owner-occupied. Other conditions may apply; ask for details.
6Products and their features may change at any time. This is a general description only. Creditor Life Insurance for President's Choice Financial Mortgages is creditor's group insurance underwritten by The Canada Life Assurance Company and is administered by the insurer and CIBC. CIBC receives fees from the insurer to promote and administer the plan. This insurance is subject to conditions, limitations and exclusions (which are circumstances when benefits are limited or not paid) that are described in a Certificate of Insurance you receive upon enrolment. For more information call the Creditor Insurance Helpline at 1-800-465-6020.
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