IG Wealth Management Mortgage Rates
IG Wealth Management offers fixed and variable mortgages that can be incorporated into a broader financial plan. Compare IG Wealth Management’s current mortgage rates below with rates from other Canadian lenders.
The rate you qualify for depends on your down payment, mortgage amount, property type, amortization, credit profile and whether the mortgage is insured. IG Wealth Management may also offer relationship pricing to eligible clients.
IG Wealth Management mortgages are provided by Investors Group Trust Co. Ltd., while nesto handles the mortgage brokerage process.
IG Wealth Management Fixed Mortgage Rates
An IG Wealth Management fixed-rate mortgage keeps the same interest rate for the length of your mortgage term. Your scheduled principal-and-interest payment remains consistent, making it easier to budget and protecting you from rate increases during the term.
Fixed mortgage rates are commonly available for terms such as three, four and five years. A shorter term lets you renew sooner, while a longer term provides payment certainty for a longer period.
| Term | IG Wealth Management Rate | Canada's Lowest Rate |
|---|
The rates shown are for insured mortgages with a down payment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time.
IG Wealth Management Variable Mortgage Rates
The interest rate on a variable mortgage rises or falls when IG Wealth Management changes its prime rate. This means a variable mortgage does not provide the same rate certainty as a fixed mortgage.
IG Wealth Management currently advertises a five-year variable mortgage. It’s an adjustable-rate mortgage, which means that a change in the mortgage rate changes your required mortgage payment amount.
Variable mortgages may offer a lower initial rate than comparable fixed mortgages, but borrowers must be comfortable with the possibility of higher rates and payments during the term.
| Term | IG Wealth Management Rate | Canada's Lowest Rate |
|---|
The rates shown are for insured mortgages with a down payment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time.
IG Wealth Management Prime Rate
The IG Wealth Management prime rate is used as the basis for many of the IG Wealth Management lending products, which include mortgages, lines of credit, and HELOCs. The way the prime rate is used to calculate the final interest rate on a product is by adding or subtracting a spread to it. This spread will depend primarily on how risky the product is for IG Wealth Management to lend.
Current IG Wealth Management Prime Rate: 4.45%
IG Home Equity Plan
The IG Home Equity Plan is a home equity line of credit, or HELOC, that lets eligible homeowners borrow against some of the equity in their property.
A HELOC provides revolving credit. You can withdraw funds when needed, repay them and borrow from the available credit again. It may be used for expenses such as renovations, emergency costs, education or consolidating higher-interest debt.
HELOC rates are variable and can change when the lender’s prime rate changes. Because your home secures the credit line, it is important to have a repayment plan and avoid treating the available credit as additional income.
IG Wealth Management Mortgage Prepayment Privileges
IG Wealth Management provides several ways to pay down an eligible mortgage faster without exceeding its regular prepayment limits:
Annual lump-sum payment: Pay up to 15% of the mortgage’s original principal amount each year.
Payment increase: Increase your regular monthly mortgage payment by up to 15% once per year.
Double-up payments: Make an additional payment alongside some or all of your regular mortgage payments.
Payments above the permitted amount result in a prepayment charge.
IG Wealth Management Mortgage Prepayment Charges
You may have to pay a prepayment charge if you break a closed mortgage before the end of its term, refinance before maturity or repay more than your mortgage’s permitted prepayment amount.
Closed Fixed-Rate Mortgage
The prepayment charge is generally the greater of:
- Three months’ interest on the amount being prepaid, or
- The interest rate differential, commonly called the IRD.
The IRD estimates the lender’s financial loss from receiving your mortgage balance earlier than expected. It compares your existing mortgage rate with the lender’s current rate for a mortgage covering the remaining portion of your term.
Variable-Rate Mortgage
The prepayment charge for a closed variable-rate mortgage is generally three months’ interest, calculated using your current mortgage rate.
Actual charges depend on your mortgage agreement, remaining balance, rate and time left in the term. The mortgage penalty calculator below provides an estimate only.
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. 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?
What is your current regular mortgage payment amount?
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?
When did your current mortgage start?
Is the Property:
Who is your current mortgage lender?
What is your lender's current interest rate for a 1-year fixed rate mortgage?
What would you like to do?
Please complete all fields before calculating.
By using the calculator, you agree to our Terms of Service
Is an IG Wealth Management Mortgage Right for You?
An IG Wealth Management mortgage may be worth considering if you already work with an IG Advisor and want your mortgage considered alongside your savings, investments and other financial goals.
Before choosing a mortgage, compare:
- The interest rate and annual percentage rate
- Fixed versus variable payment risk
- Prepayment privileges
- Mortgage break penalties
- Portability and refinancing options
- HELOC availability
- Restrictions attached to promotional rates
About IG Wealth Management
IG Wealth Management is a subsidiary of IGM Financial Inc. (TSX:IGM), which was founded in 1926 and is headquartered in Winnipeg, Manitoba. IGM is the largest non-bank asset manager in Canada and is a member of the Power Corporation group of companies. IGM has two main operating divisions focused on investment management services, along with a third service that provides investment planning counsel. In addition to asset management services, IG Wealth Management also offers estate planning, mortgages, insurance, and cash management accounts. Overall, IG Wealth Management employs over 3,300 people and has over $170 billion in assets under advisement.
Contacting IG Wealth Management
For a new mortgage application or pre-approval, you can speak with an IG Advisor or Mortgage Advisor through IG Wealth Management’s mortgage contact form.
For questions about an existing mortgage, contact the IG Mortgage Contact Centre:
- Phone: 1-866-736-7693
- Email: servicing@igmortgages.ca
- Hours: Monday to Friday, 8:00 a.m. to 7:00 p.m. Central Time
For general IG Wealth Management inquiries:
- Phone: 1-888-746-6344
- Quebec: 1-800-661-4578
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA® does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.