A Combination of Products You can divide your mortgage loan into any number of portions, each with its own rate, term, payment frequency and amortization period. For even greater flexibility, one of those portions can be the All-In-OneTMmortgage line of credit 2. A solution that adjusts to your needs National Bank's made-to-measure mortgage is flexible. Consolidate all your debts while continuing to monitor each of your projects separately. If your needs change, you can adjust the conditions of one portion of your loan without having to renegotiate the entire mortgage Advantages Diversify your debts the same way you diversify your investments: By diversifying your investments you reduce risk. Now you can apply that same principle to your debts. By structuring your mortgage loan into separate portions with different rates and terms, you reduce the impact of potentially higher rates that may be in force at time of renewal. Combine fixed and variable rates: With the made-to-measure mortgage, you don't have to choose between having stable payments and saving on interest. You can combine fixed and variable rates...and get the best of both worlds. Spread out your mortgage terms: By spreading out your terms with the made-to-measure mortgage, you can protect yourself from future increases while saving on interest with short-term rates.
Get repayment flexibility: With the made-to-measure mortgage, a portion of your loan can be structured as the All-In-OneTM . Vline of credit. By calibrating payments with cash inflows, you decide how much you want to pay back on this portion. Note that applicable interest and insurance premiums must be paid. Variable-Rate Mortgage1 Get the lowest rate on the market! The Variable-Rate Mortgage adjusts every month. You get a discount on the lowest possible rate on the market! And fixed payment simplifies budget planning: it establishes the payment amount in advance and when rates fall it pays down the mortgage faster. Take advantage of convenient payment terms: -Closed 5-year term -Fixed payment: this option facilitates budget planning and allows for a larger payment on principal. The fixed payment amount may be revised if it no longer covers current interest expenses. -Can be converted to a fixed-rate mortgage for a term equal to or greater than the period remaining in the current term. -Payment frequency can be weekly, bi-weekly or monthly. Opt for comprehensive coverage2 If you wish, you can add life, critical illness3 and/or disability insurance to your mortgage. For your convenience, the premiums are debited automatically from your account. 1 Subject to change without notice. 2 Certain conditions apply, particularly regarding eligibility. 3 This coverage is valid only in the event of an initial diagnosis of one of the following three conditions: cancer, stroke or heart attack (subject to certain exceptions) and is only offered to clients with life insurance from National Bank Insurance. This insurance is available only for National Bank mortgage loans and covers loan balances up to $500,000. Fixed-Rate Mortgage1 Fixed-Rate Mortgage1 is ideal if you want to protect yourself from interest rates that may rise over the long term. For greater flexibility, you can choose from a range of terms and amortization periods. What's in it for you: Wide range of terms: Open: 6 months, 1 year Closed: 3 months, 6 months, 1 year, 2 years, 3 years, 4 years, 5 years, 7 years, 10 years. -The rate will not change during the chosen term. -Multi-Choice Option: divide your mortgage into easily-managed portions. -Revolving clause: reborrow against your repaid principal. Take advantage of three prepayment options: These three prepayment options, available at no additional charge or penalty, can save you a lot in interest costs. The amount you pay is applied directly to the principal, thereby reducing the length of your mortgage and the amount of interest you'll have to pay. -Make additional payments totaling 10% of principal Over the course of each calendar year2 you can make one or more additional payments totaling up to 10% of the initial principal. -Make an additional payment each payment date On any regular payment date, you can make an additional principal payment up to the amount of your current payment (including principal and interest). -Increase the size of your payment Once each calendar year, you can increase the size of your regular payment by up to twice the original payment amount. The new amount remains in effect for the remainder of the term. Opt for comprehensive coverage 3 If you wish, you can add life, critical illness4 and disability insurance to your mortgage. For your convenience, the premiums are debited automatically from your account. 1 Subject to credit approval by National Bank of Canada. Some conditions apply. 2 Accrued interest will be calculated if the payment is not made on the regular payment date. 3 Certain conditions apply, particularly regarding eligibility. 4 This coverage is valid only in the event of an initial diagnosis of one of the following three conditions: cancer, stroke or heart attack (subject to certain exceptions) and is only offered to clients with life insurance from National Bank Insurance. This insurance is available only for National Bank mortgage loans and covers loan balances up to $500,000 Michael Mbilitem Mortgage Development Manager Dir: 613-890-3010 Fax: 613-241-0361 Email: michael.mbilitem@nbc.ca Twitter: @michaelnationa1 National Bank of Canada 355 Montreal Rd Ottawa, On
