Mortgage Terms Database
Compare prepayment privileges, penalty rules, portability, and features across 20+ real Canadian lenders — all in one place.
Morty says
Not all mortgages are created equal! A lower rate might come with a collateral charge that traps you at renewal, or stingy prepayment privileges that cost you thousands in interest over the life of the loan. Always compare the full terms, not just the rate.
Showing 23 of 23 products
RBC Fixed Rate Special
RBC Royal Bank
4.49%
Fixed · 5yrPrepay
10/10
Rate Hold
120 days
Flexibility
Low
RBC Variable Rate
RBC Royal Bank
4.10%
Variable · 5yrPrepay
10/10
Rate Hold
120 days
Flexibility
Low
TD Fixed Rate Mortgage
TD Canada Trust
4.44%
Fixed · 5yrPrepay
15/100
Rate Hold
120 days
Flexibility
High
BMO Smart Fixed Mortgage
BMO
4.39%
Fixed · 5yrPrepay
20/20
Rate Hold
130 days
Flexibility
High
Scotia eHOME Fixed
Scotiabank
4.29%
Fixed · 5yrPrepay
15/15
Rate Hold
120 days
Flexibility
Moderate
CIBC Fixed Rate Closed
CIBC
4.44%
Fixed · 5yrPrepay
10/10
Rate Hold
120 days
Flexibility
Low
MCAP Value Fixed
MCAP
4.14%
Fixed · 5yrPrepay
20/20
Rate Hold
120 days
Flexibility
High
First National Excalibur Fixed
First National
4.19%
Fixed · 5yrPrepay
20/20
Rate Hold
120 days
Flexibility
High
First National Variable
First National
4.00%
Variable · 5yrPrepay
20/20
Rate Hold
120 days
Flexibility
High
RMG Fixed Rate
RMG Mortgages
4.19%
Fixed · 5yrPrepay
20/20
Rate Hold
120 days
Flexibility
High
CMLS Fixed Rate
CMLS Financial
4.24%
Fixed · 5yrPrepay
20/20
Rate Hold
120 days
Flexibility
High
ICICI Fixed Rate
ICICI Bank Canada
4.34%
Fixed · 5yrPrepay
15/15
Rate Hold
90 days
Flexibility
Moderate
nesto Fixed Rate
nesto
3.99%
Fixed · 5yrPrepay
20/20
Rate Hold
150 days
Flexibility
High
nesto Variable Rate
nesto
3.80%
Variable · 5yrPrepay
20/20
Rate Hold
150 days
Flexibility
High
True North Fixed Rate
True North Mortgage
4.09%
Fixed · 5yrPrepay
20/20
Rate Hold
120 days
Flexibility
High
Butler Fixed Rate
Butler Mortgage
4.04%
Fixed · 5yrPrepay
20/20
Rate Hold
120 days
Flexibility
High
Meridian Fixed Rate
Meridian Credit Union
4.29%
Fixed · 5yrPrepay
20/20
Rate Hold
120 days
Flexibility
High
Coast Capital Fixed Rate
Coast Capital Savings
4.34%
Fixed · 5yrPrepay
20/20
Rate Hold
90 days
Flexibility
High
Desjardins Reduced Rate
Desjardins
4.19%
Fixed · 5yrPrepay
15/15
Rate Hold
120 days
Flexibility
Moderate
Equitable Bank Fixed Rate
Equitable Bank
4.19%
Fixed · 5yrPrepay
20/20
Rate Hold
120 days
Flexibility
High
Manulife One
Manulife Bank
4.45%
Variable · 5yrPrepay
100/100
Rate Hold
60 days
Flexibility
High
HSBC Legacy Fixed Rate
HSBC Canada (RBC acquired)
4.39%
Fixed · 5yrPrepay
20/20
Rate Hold
120 days
Flexibility
High
B2B Bank Fixed Rate
B2B Bank
4.29%
Fixed · 5yrPrepay
20/20
Rate Hold
120 days
Flexibility
High
Morty's Pro Tips
Watch out for collateral charges! Banks like RBC, TD, and Scotiabank register your mortgage as a collateral charge. That means you can't switch lenders at renewal without paying legal fees to discharge and re-register. If flexibility matters, look for “Standard Charge” products.
Prepay privileges matter more than you think. A 20/20 product (20% lump sum + 20% payment increase) vs a 10/10 product can save you tens of thousands in interest if you make extra payments. That's why monolines and credit unions often win the full-picture comparison.
Rate holds protect you. A 120-day rate hold means you lock in today's rate for 4 months while you shop. Some lenders offer 150 days. If rates rise, you keep the lower rate. If they drop, you get the new lower rate. It's a free insurance policy.
IRD penalties can be brutal. The Interest Rate Differential penalty on fixed mortgages can be 10-20x higher than 3 months' interest. If you might break your mortgage early (move, refinance, lump sum), a variable rate with 3-months'-interest penalty is often safer.