i relax™

Traditionally, recreation property hasn't qualified for mortgage financing. So your dream of a cottage by the lake, a ski chalet in the mountains or a vacation home by the sea remained just that, a dream.

But now, with the i relaxTM mortgage, the door is open to making that dream a reality. Introducing recreation property mortgages for most second properties, including winterized and non-winterized properties.

i relaxTM gives you the ability to purchase or refinance a summer, winter or all season vacation property with as little as 15% down. And, to make qualification even easier, i relaxTM can function as a blanket mortgage so your principal residence can be used as additional collateral.

Any single family owner-occupied vacation property will be considered, as long as it's located in a known vacation area, has approved plumbing and year round access.

Key Features & Benefits:

• Approvals up to 85% of property value (plus lender fee)
  
• For purchases and refinances
  
• 3 and 5-year fixed rate; 5-year variable
  
• 60 day rate hold
  
• One time rate drop 7 days prior to closing, if applicable
  
• Amortization up to 25 years
  
• Mortgages up to $600,000 CDN ($700,000 CDN in certain major centres)
  
• Flexible prepayment options; up to 20% prepayment and 20% increase in payments annually