Fixed-Rate Mortgages in Ontario: 

Stability and Peace of Mind

In an ever-changing economy, keeping up with fluctuating mortgage rates can feel overwhelming. A fixed-rate mortgage offers financial stability and protects you from sudden interest rate hikes associated with variable-rate mortgages. At Bedi Mortgage Advisors, we specialize in helping clients across Ontario secure fixed-term mortgages that provide peace of mind and long-term savings.

What Is a Fixed-Rate Mortgage?

A fixed-rate mortgage locks in your interest rate and monthly payment for the entire term of the loan, offering predictability and financial security. Terms can range from 1 year to as long as 25 years, allowing you to choose the option that best suits your financial goals and lifestyle.

Choosing a longer repayment term provides added protection, as your payments and interest rate remain consistent throughout the loan period. Some lenders even offer flexible terms and prepayment options for fixed-rate mortgages, which can make managing your loan more convenient.

Why Choose a Fixed-Rate Mortgage?

Fixed-term mortgages are ideal for borrowers who value consistency in their monthly payments and want to avoid the uncertainty of fluctuating interest rates. Key benefits include:

• Predictability: Your payment amount remains the same throughout the term.
• Protection: You’re safeguarded from potential interest rate increases.
• Budgeting Made Easy: Fixed payments make it simpler to plan your finances.

At Bedi Mortgage Advisors, our team of mortgage experts is here to help you explore your options and secure the most favorable terms for your fixed-rate mortgage in Ontario.

Prepayment Charges for Fixed-Rate Mortgages

While fixed-rate mortgages offer stability, prepaying the loan in full before the end of the term can result in a prepayment charge. This charge is calculated as the greater of:

1. Three Months’ Interest
   The interest cost for three months at your current mortgage rate on the amount you wish to prepay.

2. Interest Rate Differential (IRD)
   The difference between:

   • The total interest you would pay over the remaining term at your current mortgage rate.
   • The total interest you would pay over the remaining term at the lender’s current interest rate for a similar fixed-term mortgage.

The prepayment charge is determined by comparing these amounts, and lenders typically apply the higher of the two. However, if your fixed-term mortgage exceeds five years, the prepayment penalty after the fifth year is limited to three months’ interest.

Why Work With Bedi Mortgage Advisors?

At Bedi Mortgage Advisors, we understand that every client has unique needs. Whether you’re a first-time homebuyer or looking to refinance, our mortgage professionals are dedicated to helping you find the perfect fixed-term mortgage that aligns with your goals.

What We Offer:

• Competitive fixed mortgage rates tailored to your financial situation.
• Access to flexible repayment terms and prepayment options.
• Expert guidance to navigate the complexities of fixed-rate mortgages.

Ready to Lock in Your Mortgage Rate?

If you’re looking for financial stability and a mortgage solution you can count on, a fixed-rate mortgage is the way to go. Contact Bedi Mortgage Advisors today for personalized assistance and the best rates in Ontario.

📞 Call us: +1 416 997 1643
📧 Email us: info@bedimortgageadvisors.ca
🌐 Visit our website: bedimortgageadvisors.ca

Let us help you secure your future with a fixed-term mortgage that works for you. Stability and peace of mind are just a call away!