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Minimum first payment are 5% for properties under $500,000 but rise to five.5-10% for higher priced homes. The Home Buyers Plan allows withdrawing up to $35,000 tax-free from an RRSP towards a first home purchase. Swapping a variable rate for any fixed rate upon renewal will not trigger early repayment charges. Home equity credit lines allow borrowing against home equity and possess interest-only payments depending on draws. Shorter term or variable rate mortgages often feature lower interest rates but have greater payment uncertainty. Complex commercial Vancouver Mortgage Broker underwriting guidelines scrutinize fundamentals like locations, tenant profiles, sector influences and valuations when determining maximum financing amounts over customized longer terms. Fixed rate mortgages provide certainty but reduce flexibility for extra payments when compared with variable mortgages.