5-Year Variable Rate Mortgage

Variable Rate Mortgage

With a variable rate mortgage, the interest you pay fluctuates based on Meridian’s prime rate. Lots of people choose this option if they think rates will go down. If rates do go down, you pay down more of your principal than originally planned!

Our Mortgage Features

20/20 PREPAYMENT PRIVILEGES

Pay down up to 20% of the original principal balance, per year, without penalty or increase your monthly payment by up to 20% of your original payment plan each year (or both).

SKIP-A-PAYMENT

Whatever the reason, we can help ease the strain. Our Skip-a-Payment feature is as simple as it sounds – we let you skip one month’s mortgage payment to give you a little breathing room.

FLEXIBLE SCHEDULE

Having a mortgage is a long-term commitment. Choose a payment schedule that suits you and fits your budget: weekly, bi-weekly, monthly, bi-monthly and accelerated weekly and bi-weekly.

MORTGAGE PROTECTION

Our Group Mortgage Protection (GMP) is a monthly premium that helps safeguard your home in case of financial hardships including death, disability or critical illness.

Our Online Application Process

Step 1:

Complete a simple profile and we will hold any of our advertised rates for you for 90 days. No questions asked and no further commitment

Step 2:

Once your application is submitted, we’ll provide you with your FREE credit score and a list of any further documents needed to complete your application.

Step 3:

Once your application is completed, a final approval will be provided to you within a few business days.

WANT TO TALK TO SOMEONE?

Whether you’re in the market for a new mortgage or looking to renew, switch or refinance your existing mortgage, Meridian makes it simple and convenient. You can apply completely online or have one of our friendly Mortgage Specialists come to you. Your local branch or our Contact Centre are happy to help too.

1-866-592-2226

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*O.A.C Rates are subject to change without notice. Quoted rates are based on blended payments of principal and interest and is the regulatory Annual Percentage Rate if there is no cost of borrowing other than interest. Interest is calculated half-yearly, not in advance. Additional premiums may apply in cases of a refinance, amortizations greater than 25 years, non-owner occupied, or other instances where application details may warrant it. The interest rate with variable rate mortgages will fluctuate with Meridian Prime Rate, which is currently 3.95%. A High Ratio mortgage is applicable in cases where a borrower places a down payment of less than 20% of the purchase price on a home. Where applicable, the Bank of Canada qualifying rate is 5.19%

2.90%*

VARIABLE RATE MORTGAGE

5-YEAR CLOSED

Apply Now

2.90%*

VARIABLE RATE MORTGAGE

5-YEAR CLOSED

2.90%*

VARIABLE RATE MORTGAGE

5-YEAR CLOSED

Apply Now

2.90%*

VARIABLE RATE MORTGAGE

5-YEAR CLOSED

Apply for a Meridian mortgage online, at your own pace and on any device. You can also talk to us about it anytime – visit a branch, call us, or have a Mobile Mortgage Specialist come to you!

INTERESTED IN OUR OTHER SPECIAL MORTGAGE RATES?

FIXED RATE MORTGAGE

5-Year Closed

2.84%

FIXED RATE MORTGAGE

5-Year Closed High Ratio

2.69%

Variable Rate Mortgage

Our Mortgage Features