Variable
A Variable Rate Mortgage allows you to take full advantage of changing interest rates based on NLCU Prime.
FEATURES:
- Base rate is set based on market
- Interest is charged each month, saving you money
- Payments can be fixed for up to 2 years*
- Option of making monthly payments based on an interest rate that is 1.5% higher than the variable mortgage base rate
- Opting to make weekly or bi-weekly payments can save you thousands of dollars
- Low-cost life, disability and job loss insurance for single or joint coverage
* Interest may change from month to month depending on the market conditions.
NOTE For Current Variable Rate Mortgage Holders
The above features may or may not apply. Please refer to your schedule provided at the time the mortgage was advanced. This schedule will outline your variable rate mortgage features.
