Synergy Open Mortgage

A residential term mortgage product that offers more flexibility since it allows you to pay down your mortgage as quickly as possible with no pre-payment penalties.

Cost Savings/Earnings: Expand/Collapse

"You have the opportunity to have more money in your pocket."
- No limits on the amounts you can prepay.
- No prepayment penalties.
- Free mortgage renewals.
- Competitive interest rates.

Flexible: Expand/Collapse

"You have multiple options to choose from to fit your needs."
- Your options include:

  • Fixed rate (1 year term) or variable rate (3 year term) options available.
  • The ability to convert to any of our other Synergy mortgage products at anytime (convertible).
  • Automatic transfers or self payments.
  • Payment frequency (weekly, biweekly, monthly, etc.).

Affordable: Expand/Collapse

"You can acquire your dream home sooner with a smaller down payment."
- Conventional (as little as a 20% down payment) or CMHC* options (5% down payment) available on certain terms.

"You can acquire your dream home sooner with a smaller down payment."
- Life of mortgage up to 25 years.

Peace of Mind: Expand/Collapse

"You can protect your assets and your family in light of unforeseen events."
- Loan payment protection available:

  • Life
  • Disability
  • Critical Illness
  • Loss of Employment

Additional Information:

* Other options may be available for the funding of your down-payment. See in-branch for details.
- Canada Mortgage & Housing Corporation (CMHC) approval is required. Synergy provides the application on your behalf.
- CMHC premium can be added to your mortgage.

Who might benefit from this product/service?

Members who are looking to pay down their mortgage as quickly as possible.

Key Resources & Tools

Advice Videos

Home buying tips video

Home Buying Tips

Tips to help you get started with your home purchase.

Saving for a Down Payment Video

Saving for a Down Payment

3 tips to help you get closer to reaching your down payment goals.

6 Ways To Get More With Your Mortgage video

6 Ways To Get More With Your Mortgage

Important things to consider with your mortgage, which could save you future potential hassles and money.


Mortgage Application

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