|
Fixed for the full term of the loan
Effective April 2012 (applicable to loans approved on or after this date while these rates remain in effect)
| Term / Amortization | Interest Rate |
|---|
| 1 to 5 years |
3.15 % |
| 6 to 10 years |
3.75 % |
| 11 to 15 years |
4.40 % |
| 16 to 20 years |
5.60 % |
| 21 to 25 years |
5.90 % |
| 26 to 30 years |
5.90 % |
Limited Term Interest Rates
(please see conditions below)
The following rates are for the first three, five or ten years on loans of the term specified. The loan must be paid out or renewed at prevailing interest rates at the end of the three-, five- or ten-year term.
Due to the risk that interest rates and payment required may change significantly at three or five-year intervals, these loans are being offered only to clients who are in a strong position to withstand interest rate fluctuations. If interested, please discuss this option with a loan officer.
| Term / Amortization | Interest Rates |
|---|
Three-year
Term | Five-year
Term | Ten-year
Term |
|---|
| 1 to 5 years |
2.80 % |
3.05 % |
-- |
| 6 to 10 years |
2.80 % |
3.35 % |
3.65 % |
| 11 to 15 years |
3.10 % |
3.45 % |
4.05 % |
| 16 to 20 years |
3.10 % |
3.50 % |
4.45 % |
| 21 to 25 years |
3.15 % |
3.50 % |
4.45 % |
| 26 to 30 years |
3.15 % |
3.55 % |
4.50 % |
Eligibility requirements include:
- demonstrated ability to withstand rate adjustments
- strong security position
- two years full financial statements
- professionally compiled financial statements (review engagements may be required)
- risk assessment
|
