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Multi-Flex Plus
Multi-Flex Plus is a mortgage loan
that is registered for a term
of five years and renewable each year at no charge.
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Features and Advantages
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Your rate is based on a one-year
term less ½ of 1% renewable four times. |
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During the first five years, if you don't exercise the conversion
option, your loan will be renewed automatically at the end of each
year for a one-year term. The interest rate granted is the one year
term published rate less ½ of 1%.
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After making at least one payment, you may convert the term of your
loan to a closed term of 12, 24, 36, 48 or 60 months at any time,
provided that your loan has a minimum term of 60 months in total,
including the number of months elapsed since the loan was disbursed.
The interest rate is set at the published rate for the chosen term.
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less 1% for a term of 60 months; |
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less ½ of 1% for terms of
12, 24, 36 and 48 months. |
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