Flexi-Mortgage

Are interest rates likely to rise or fall? Is it better to choose long or short terms, fixed or variable rates? Unless you’ve got a crystal ball, it’s impossible to tell what the future holds.

With Alterna’s Flexi-Mortgage, you’re not stuck with one option. You can have the best of all worlds: short and long, as well as open and closed term mortgages. Divide your mortgage amount into as many as six terms for greater flexibility and more prepayment options.

The Flexi-Mortgage acts like a mortgage "ladder" where renewal dates are staggered. You get it all – the security of a closed mortgage, and the flexibility of an open one.

For Example

Shivanthi's total mortgage amount is $200,000. She can choose to split her terms as follows:

Portion 1 5 Year Fixed Mortgage $100,000
Portion 2 1 Year Open Mortgage $50,000
Portion 3 Variable Rate Mortgage $50,000

At Alterna we’re here to help you find your perfect mortgage fit.