Rates and Pricing

Bi-weekly payment schedule designed to reduce principal faster than a standard bi-weekly plan.

Actual interest rate written into the mortgage contract, distinct from qualifying or posted rates.

Date used to account for odd days of interest between mortgage funding and the first regular payment.

Penalty method many Canadian lenders use when a fixed-rate mortgage is broken before maturity.

Break cost or prepayment charge that can arise when a mortgage is changed or ended early.

Lender headline rate often used as a reference point rather than the final negotiated price.

Contract right to make limited extra payments or lump sums without triggering a penalty.

Canadian mortgage rate, payment, penalty, and pricing terms that shape cost, cash flow, and lender comparisons.