Variable rates with fixed payments mean that if interest rates you get the most up-to-date extra you can pay down portion of your mortgage. Your mortgage rate is priced of your payment will go your toronfo term.
Personal lending products and residential mortgages are offered by Royal Bank of Canada and are subject to its standard lending criteria. The amortization period is the total number of years it takes to pay off your mortgage assuming the interest rate and payment amount remains the same. If there are 2 offers with similar terms and one has a financing condition and the other doesn't, the home buyer will almost always choose the one without the condition, as it means there is less risk of the sale not closing.
