Variable Rate Mortgage
With a President's Choice Financial® variable rate mortgage¹ your interest changes with the changing CIBC prime rate. As interest rates go up and down so does the amount of interest you pay.
- Competitive open dialog rate
- Option to convert at any time to a
3 year fixed term or longer without a prepayment charge (owner-occupied properties only)
- Dedicated Mortgage Specialist to help you from the moment you find out how much you can afford, to the day you move in
- Easy pre-approval by go tophone, go toonline, or at a PC Financial go topavilion
- Amortization options - up to a maximum of 30 years2
- Flexibleopen dialog prepayment options 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 year3
Take a look at today's rates:
|Term||Variable Rate (%)|
Pay off your mortgage faster by taking advantage of the flexible prepayment options available on most PC Financial mortgages. Find out how much you could save with our go topayment calculator
- Make lump sum payments of up to 20% of your original principal each year
- Increase payment amount to any amount provided that the amortization is not reduced to less than 5 years
Creditor Life Insurance for President's Choice Financial Mortgages4 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.
**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 Offer may be changed, withdrawn or extended at any time, without notice.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.
i2.52% APR (Fresh Cut No Points only)
ii2.76% APR (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.
2Amortization 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.
3Rainy day option to skip a payment is available only on mortgages that are not CMHC insured. 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.
4Products 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.
Fresh Financial Thinking®