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.
"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.
"You have multiple options to choose from to fit your needs."
- Your options include:
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Fixed rate (1 year term) or variable rate (3 year term) options available.
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The ability to convert to any of our other Synergy mortgage products at anytime (convertible).
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Automatic transfers or self payments.
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Payment frequency (weekly, biweekly, monthly, etc.).
"You can acquire your dream home sooner with a smaller down payment."
- Conventional (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.
"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

6 Ways To Get More With Your Mortgage
Important things to consider with your mortgage, which could save you future potential hassles and money.
Helpful Articles
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