You can get a 5 year variable rate mortgage now for as low as 2.20% (prime -0.80%) with 20% prepayment privileges. The only restriction is that it is fully closed for 5 years. What this means is that you can't refinance with a different lender, or pay the home off in full during this period unless you sell the home.
There are some other great options such as a 3 year fixed for 2.49% or 5 year fixed as low as 2.74%.
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Paul Meredith
Mortgage Broker
CityCan Financial (est 1976)
416-409-8009
http://www.easy123mortgage.capaulm@citycan.comLic#10532
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