What is a fixed rate mortgage?

The interest rate on a fixed-rate mortgage is set for a pre-determined term — usually between 6 months to 10 years. This offers the security of knowing what interest you will be paying for the term selected. However, your interest is locked so if rates go down you may pay more than the market rate. But if rates go up you are secure.

What is a variable rate mortgage?

A mortgage in which payments will fluctuate month to month depending on the prime interest rate. If prime goes up so does your payment but if it goes down you pay less. Also, variable rates are usually lower than fixed rates but again can go up or down. Nobody has a crystal ball.

How can you pay off your mortgage sooner?

There are ways to reduce the number of years to pay down your mortgage. You’ll enjoy significant savings by:

• Selecting a bi-weekly or accelerated payment schedule
• Doubling your payments on a given month if you have the cash
• Making principal prepayments of up to 15-20% depending on your mortgage contract
• Selecting a shorter amortization at renewal


Astrid Willemsen
Sales Representative



1300 Yonge Street, Suite 100, Toronto, M4T 1X3


Mobile: 416.988.2126
Office: 416.925.9191 

E-mail: Direct:


By establishing office locations in the most desirable luxury and recreational markets in Ontario, we're able to serve a wide range of clients looking to buy and sell both primary and secondary residences across the province.


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