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Loans
Did you know that La Capitale offers a number of different loan options? Discover our products and attractive rates!
MORTGAGE
Fixed Rate Mortgage
If you're the kind of person who likes to plan ahead and avoid unpleasant financial surprises, take out a fixed rate mortgage and enjoy a fixed interest rate for the duration of the term you select. That way, you know the amount of your payments in advance and can rest easy.
Here are the fixed rate mortgage terms available from La Capitale:
- Closed fixed terms of 1 to 7 years: Fixed interest rate for the duration of the term
- Open 1 year term: Fixed rate mortgage that is redeemable anytime without penalty and can be converted to a closed term
- Convertible 6 month term: No-fee, fixed rate term that can be converted to a closed term of 1 to 7 years
Consult our basic mortgage interest rates
3-6-12 Month Mortgage (5 year term at an interest rate that is adjusted every 3, 6, or 12 months)
- Rate is automatically adjusted every 3, 6, or 12 months over 5 years
- Attractive interest rate during the initial period
- 0.40% reduction on interest rates at time of adjustment:
- 3 months: Prime rate less 0.40%
- 6 or 12 months: Basic mortgage interest rate less 0.40%
A 3-6-12 month mortgage can be converted to a closed fixed term that is equal to or longer than the remainder of the initial 5 year term. Plus, you can get a 0.40% “conversion discount” on the posted basic rate of the fixed term you selected.
Conversion terms and conditions:
- 3 or 6 months: Convertible at any time at no charge
- 12 months: No charge at time of rate adjustment
Consult our interest rates at the time of adjustment
“Multi-Credit” Option
The “Multi-Credit” Option lets you add new sums of money to your mortgage or even split your mortgage into two or more segments. It's the ideal alternative that allows you to diversify your maturity dates, take advantage of different interest rates for each segment, and choose your amortization schedule.
You decrease the risks related to interest rate fluctuations at the time of renewal because your entire mortgage does not mature at the same time.
Example of a $100,000 mortgage divided into three segments:
| | 1st segment | 2nd segment | 3rd segment |
| Amount | $60,000 | $30,000 | $10,000 |
| Term | 5 years | 3 years | 1 year |
| Rate* | 5.49% | 4.99% | 4.24% |
| Amortization | 25 years | 15 years | 5 years |
* Interest rates are for illustrative purposes only. Certain fees apply for mortgages with 3 or more segments.
BUDGET MARGIN
Our budget margin program provides all the flexibility you need to bring your projects to life without throwing your budget off balance:
- Variable interest rates
- Payment through payroll deductions or preauthorized payments
- Penalty-free advanced repayment option available anytime
- Amount repaid available to be reused at any time, upon request
HBP LOAN (Home Buyer's Plan)
Dreaming of becoming a homeowner but don't have enough for a down payment? No problem! The HBP (Home Buyer's Plan) can help you become a homeowner by allowing you to withdraw up to $20,000 from your RRSP tax free.
If you don't have the entire $20,000 amount, there is another avenue available to you if you haven't been able to fully contribute to your RRSP and have accumulated allowable contributions since 1991. You can turn those thousands of dollars into considerable tax savings by borrowing the amount corresponding to your unused allowable contributions to attain $20,000 and depositing it into your RRSP. To repay the loan, you withdraw the money via the HBP with no tax deducted at source. Because this sum is considered an RRSP contribution, you can deduct it from your taxable income and use the resulting tax refund to increase your down payment.
Consult our HBP Loan interest rates (Home Buyer's Plan)
RRSP LOAN
Want to invest more money in your RRSP without tightening your belt? La Capitale makes it easy to quickly access the money you may need to increase your retirement capital with RRSP loans.
Consult our RRSP loan interest rates
Other product features:
- Competitive interest rates guaranteed for a minimum of 90 days, with a rate reduction upon signature of the loan if market conditions warrant
- Preauthorized mortgage to facilitate the negotiation of your purchase and possibility of an HBP loan for first-time home buyers
- Convenient payment methods: Preauthorized payments or payroll deductions (if offered by employer)
- Flexible payment schedules: Weekly, bi-weekly, or monthly on the date of your choice
- Possibility of paying down the principal throughout the term to a maximum of 15% per calendar year
- Capitale Plus Option: Depending on your contract, you may either re-borrow the principal already repaid or borrow part of the appreciated value of your property to renovate, repay a debt, or finance any other project that's important to you
- No transfer, renewal, or monthly administrative fees
- Mortgage life insurance and disability insurance available upon request
- Direct access to our subsidiary, La Capitale General Insurance Inc., for coverage of your home and personal property
In case of a discrepancy between the interest rates displayed on this site and the official list issued by La Capitale Financial Group Inc., the official list issued by La Capitale Financial Group Inc. shall prevail. Interest rates are subject to change without notice.
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