Our 3 year fixed mortgage rates Ontario give you security in knowing exactly what your mortgage payments will be and that they are unaffected by changing interest rates, but for a shorter term should mortgage rates drop. As with the 5 year fixed mortgage rates Ontario, you only have the option of a closed fixed mortgage rate. The advantage of a closed mortgage is that the interest rates tend to be lower, but options are limited. Typically a homeowner may make extra payments or larger payments as long as the sum of the payments does not exceed a set amount determined in the loan agreement. Payments exceeding the agreed upon amount; however, would incur penalties.
Find the best mortgage brokers Ontario to assist you whether you are a first time home buyer and obtaining your first mortgage, or if you currently have a mortgage and need a second mortgage, refinancing, renewing or require a home equity loan. Our expert brokers at Richmond Lending have the resources, year and knowledge required to find you the best mortgage rates Ontario. Contact us for find out more.