TORONTO, April 12, 2012 /CNW/ - XCEED Mortgage Corporation [TSX: XMC], a Canadian provider of residential mortgages, announces the launch of the new no frills mortgage product, the XCEED Simplicity Mortgage.
XCEED Simplicity Mortgage offers borrowers significantly lower interest rates in return for more restrictive prepayment options. XCEED Simplicity is a good choice for borrowers seeking low rates who do not expect to prepay the mortgage during its term.
Product Highlights include
- Low interest rates
- 10/10 repayment privileges
- 90 day rate hold
- Up to 30 year amortization
- Monthly, bi-weekly, weekly, accelerated bi-weekly and accelerated weekly payment frequencies
The mortgage can be discharged only if the mortgage is refinanced with XCEED Mortgage Corporation or in the event of a bona fide sale of the property.
Our goal is to offer Clients more choices that fit their financial reality, plans and goals. XCEED Simplicity Mortgage represents an opportunity to take advantage of historically low interest rates and the stability of a five-year commitment, which is ideal for first-time homebuyers; borrowers on a fixed income, such as retirees; or anyone planning to stay in their home for at least five years.
About XCEED Mortgage
XCEED Mortgage Corporation, based in Toronto, is a Canadian provider of residential mortgages that it originates in Canada. The company has approximately $1.0 billion of mortgages and other assets under administration. XCEED's shares are traded on the Toronto Stock Exchange [TSX: XMC]. To find out more about XCEED Mortgage Corporation, visit www.xceedmortgage.com.
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