5 year fixed mortgage rates have now dropped to a record low 2.14%. Full 20% prepayment privileges, however it is fully closed for the full 5 year period.
All this means is that you can't pay the mortgage off in full during this time unless you sell your home. It also means you cannot refinance mid-term with a different lender, however you can do so with the same lender.
Mortgage must close by December 31st.
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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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