Northsave Mortgage

Burn through your mortgage with a NORTHSAVE mortgage!

Enjoy 3.19% for a 5-Year Fixed Rate Mortgage

Burn your mortgage even sooner with our "hot" payment options:

  • Pick a payment frequency of your choice
    (weekly, bi-weekly, semi-monthly, monthly)
  • Pay down up to 20% annually with no penalty
  • Increase your payments up to 100% of your contractual payment at any time during the term
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Contact us today for your 90 day rate guarantee!

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Having a great rate on your mortgage may seem like the best way to pay down your mortgage, however, shortening your amortization can be an ideal strategy to burn your mortgage even sooner!

Check out the difference in balance owing at the end of a 5 year term, on a $200,000 mortgage, with an interest rate of 3.19%:



     

    *Available for a limited time only. The Annual Percentage Rate for a representative mortgage of $200,000 which has an appraisal fee of $450 and lawyer’s fees estimated at $1400 with interest compounded semi-annually not in advance, with an interest rate of 3.325%, with a 48 month term which will be repaid in 300 months with payments of $980.16 per month, which cannot be paid out without penalty is 3.547%. The payment illustrated in this representative agreement is based on the WAIR rate. Northern Savings will base payments on the rate after the Introductory period which will result in additional payment towards principal.

    *OAC. Rates are subject to change without notice. Rates are based on risk. Rates may be higher depending on the application and type of property selected. See your branch for more details.