First National Mortgage Rates

As of November 24th, 2020
First National

First National Fixed-Rate Mortgages

First National Fixed Rate Mortgages reduce the risk of future interest rate fluctuations by “locking in” a specific interest rate for the term. This can create peace of mind for homeowners, which makes it a fundamentally appealing program for home buyers. If you are arranging a new mortgage for a future or current home, your fixed interest rate can be guaranteed up to 120 days before the closing date of your home. If interest rates go up during that time, you will be guaranteed the lower rate.

Mortgage Amount:
Amortization:
Payment Frequency:
TermRateMonthly Payment
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FN1-Year Fixed
1.74%
$1,645
inquire
FN2-Year Fixed
1.74%
$1,645
inquire
FN3-Year Fixed
1.74%
$1,645
inquire
FN4-Year Fixed
1.74%
$1,645
inquire
FN5-Year Fixed
1.84%
$1,664
inquire
FN7-Year Fixed
2.74%
$1,843
inquire
FN10-Year Fixed
2.95%
$1,886
inquire

The rates shown are for insured mortgages with a downpayment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage.

Latest Mortgage Rates

Comparing 25 major lenders, the best mortgage rates in Canada are:
5-Year Fixed: 1.39%get this rate
5-Year Variable: 1.50% get this rate
Updated November 24th, 2020

First National Posted Rates

First National Posted Rates are the official rates used when calculating your mortgage break penalty, the fee you pay if you want to break or refinance your mortgage early. Your mortgage payment, interest, and stress test will be based on a different rate which is usually lower than the posted rate.

Term LengthFN Posted Rate
1-Year Fixed
FN1.74%
2-Year Fixed
FN1.74%
3-Year Fixed
FN1.74%
4-Year Fixed
FN1.74%
5-Year Fixed
FN1.84%
7-Year Fixed
FN2.74%
10-Year Fixed
FN2.95%

First National Mortgage Break Penalty

Variable Rate MortgageFixed Rate Mortgage
3 Months’ InterestGreater of 3 Months’ Interest or the IRD amount
Interest Rate Differential (IRD) for First National
Difference in interest payable between your current mortgage rate and First National’s current posted interest rate on a comparable mortgage for the remaining term.

First National Prepayment Calculator

Are you looking to pay off your mortgage early? Or refinance the terms of your mortgage at a lower interest rate? Maybe you sold your home and purchasing a new home, in which a mortgage transfer will apply. Whatever the case, you most likely will have to pay a mortgage break penalty set by your lender. Whatever the situation, our calculator will help you determine the cost to break your mortgage so you can be confident about your mortgage decisions.

What is the remaining balance on your mortgage?

attach_money

What is the term-length and type of your current mortgage?

What is your current mortgage interest rate?

%

If applicable, what was the rate discount you received when you signed your current mortgage agreement?

%
The day you signed your mortgage, your lender may have provided you with a discount. You may be paying 3.25% but the posted rate on that day was 3.75%, a discount of 0.5%. If you are unaware of any discount, you can skip this step.

When did your current mortgage start?

Who is your current mortgage lender?

What is TD Bank's current interest rate for a 5-year fixed rate mortgage?

%
We have populated this field for you with our most up to date data. For information on why we need this field see Interest Rate Differential
Your estimated mortgage break penalty is...
$2,437.502.44k

How is my mortgage penalty calculated?

$300,000300k
Remaining Mortgage Balance
cancel
3.25%
Current Mortgage Interest Rate
cancel
3/12
3-Months Interest
=
$2,437.5
Prepayment Total

While we try our best to get your the best rates, we cannot guarantee that they are always accurate. WOWA assumes no liability for the accuracy of the information presented, and will not be held responsible for any damages resulting from its use.