Prepayment on the 2.10% is 20%, so on a $400K mortgage, you can pay $80,000 per year over and above your scheduled payments. With this product, you can increase your payments by 20% as well... over and above the $80K lump sum... and there is no limit to how many times you can make the lump sum payments (as long as they don't exceed the 20%... or $80K in this case).
Paul Meredith
Mortgage Broker, Author - CityCan Financial Corp
(lic. 10532)
Mortgage Broker, Author - CityCan Financial Corp
(lic. 10532)