Trois-Rivières at a Glance
The City of Trois-Rivieres is located along the St. Lawrence River and Saint-Maurice River in the Mauricie Region and is home to over 134K residents. The Trois-Rivieres real estate market has a diverse range of different property types, including single-family detached houses, apartments, condominiums, and new construction homes. Single-family detached house prices in Trois-Rivieres have increased slightly by 3% from September 2019 to September 2020 and the median price for a single-family detached house is $170K. Similar to many other real estate markets during the coronavirus pandemic, condominium prices in Trois-Rivieres has decreased slightly by 1% to a median price of $137K. Trois-Rivieres has the 46th lowest property tax rates in Quebec out of all municipalities with a population greater than 20K.
| Trois-Rivières at a Glance | | Province | Québec |
| Settled Year | 1634 |
| Established Year | 1697 |
| Incorporated Year | 1857 |
| Population | 134,413 |
| City Area | 333.70 km 2 (128.84 sq mi) |
| Official Website | https://www.v3r.net/ |
Mortgage Prepayment Limit
| Bank or Lender | Annual Prepayment Limit | Frequency (per year) |
|---|
| 10% | Once |
| 15% | Once |
| Varies, up to 20% | Once |
| Varies, up to 20% | Once |
| 20% (10% for BMO Smart Fixed Mortgages) | Once |
| 20% | Once |
| 15% - 20% | Once |
| 20% | Once |
| 15% | Once |
| 20% | Once |
| 25% | Multiple |
| Varies, up to 20% | Multiple |
| Varies, up to 20% | Multiple |
| 15% | Once |
| 10% | Multiple |
| 15% | Multiple |
| 20% | Multiple |
| 20% | Once |
| 20% | Multiple |
| 20% (or 30% for “You’re the Boss” Mortgage) | Once (or multiple for “You’re the Boss” Mortgage) |
| 20% | Once |
Mortgage Prepayment Penalties
Fixed Rate Mortgage Penalty Interest Rate
For fixed-rate mortgages, lenders usually use the greater of three months of interest or an interest rate differential (IRD). Each lender has their own IRD calculation. The interest rate that they use for their IRD is usually based on either their current advertised mortgage rates or their posted rates, which can often be much higher.
| Advertised Rate IRD | Posted Rate IRD |
|---|
| |
* Equitable Bank’s IRD depends on your mortgage product
Variable Rate Mortgage Penalty Interest Rate
Most lenders determine the mortgage break penalty for a variable rate mortgage by calculating three months of interest. The interest rate that they use can depend from lender to lender, but is usually either your current mortgage interest rate or the lender's prime rate.
| Based On Your Mortgage Rate | Based On the Lender's Prime Rate |
|---|
| |
* Laurentian’s 3 Months’ Interest is based on the greater of your mortgage rate or the current prime rate.
Calculate your mortgage break or prepayment penaltyWhile we try our best to get you 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.
