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20080714

Six-Month Convertible Mortgage - By TD Canada Trust

If you like to take advantage of interest rate fluctuations, Six-Month Convertible Mortgage is for you. This mortgage lets you benefit from the typically lower interest rate of a six-month mortgage, with the option of converting to a longer closed term at any time during the six months at no cost. Term is only Six months and Interest Rate is Fixed for six months. Both conventional and high-ratio financing is available. Payment options are weekly, biweekly, semi-monthly, monthly rapid paydown. Payments can be increased by up to 100% over the term without charge. Prepayment option is up to 15% each year. ask your mortgage broker for details.

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