Introducing our newest solution – a one-year open mortgage – designed to help your clients who want the flexibility of a fully open product in anticipation of either a renewal/refinance in a longer-term loan as the rates come down or the potential sale of their property due to life circumstances.

The Basics

Term: 1-year, fully open mortgage for prepayment at any moment.
Rate: Flat rate of 8.99% on both owner-occupied and rental properties.
Fee: 1.5%
Minimum Beacon: 600
Maximum LTV: 80%

Standard ratios and qualification criteria apply.

This product is fully convertible into any of our Discover Alt terms at any time within its term. Conversion rates will be determined at the moment of the transaction.