Understanding Mortgages | Simplii Financial

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You and your mortgage

Good things to know before you get into your home

Like a home, every mortgage is different. It's good to understand your mortgage before you move, so here's some terms to get you started.

Today's great rates

Term	Rate
2 year fixed	3.34%
3 year fixed	3.59%
4 year fixed	4.19%
Special 4 year fixed**	3.54% (3.56% APR)
5 year fixed	4.79%
7 year fixed	5.14%
10 year fixed	6.05%
5 year variable	3.70%

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Mortgage Prepayment Charge Calculator

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Top FAQs

Call us at 1-888-276-3744

Email us at talktous@simplii.com

**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 Simplii Financial’s special discounted rates and are not posted rates of Simplii Financial. Offer may be changed, withdrawn or extended at any time, without notice.

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. Offer cannot be combined with other offers and is not available on variable rate, cashback fixed rate mortgages, existing Simplii Financial mortgages or mortgage renewals.

*All credit products are subject to credit approval. Some conditions and restrictions apply; ask for details.

¹ Minimum principal amount for a Simplii Financial mortgage is $35,000. Mortgages are subject to credit approval. Not available in Quebec. Conditions and restrictions apply; ask for details.

² Amortization up to 30 years is only available for uninsured mortgages only. The maximum amortization period for an insured mortgage is 25 years. Ask for full details.

³ Products and their features may change at any time. This is a general description only. Creditor Life Insurance for Simplii 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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Mortgages
Understanding Mortgages

Learn about the basics and get to know mortgages a little better

You and your mortgage

Today's great rates

Tools and calculators

More on mortgages

Buying your new home

Transferring your mortgage

Refinancing your mortgage

Mortgage prepayment options

Have questions?