What if you need help with your mortgage payments, move, or want to take advantage of lower rates? Don’t worry—you have options.

Take a break from your payments

Every so often, we all need a little financial breather. With the Skip Your Payment option,¹ you can skip up to two months of mortgage payments (principal and interest) in a calendar year.

Here’s how it works:

• Your payment won't change during the current term of your mortgage. Instead, interest is added to the principal balance.
• You can choose to pay back your skipped payments at any time, without penalty and without affecting your existing mortgage prepayment privileges.
• You will pay more interest, so look at your current financial circumstances and future goals when considering this option.

Take your mortgage with you

If you're buying another home and want to keep your current interest rate, the Portable Mortgage option allows you to transfer your existing fixed interest rate, loan balance, and maturity date to your new home.

Here’s how it works:

• You won't have any payout penalties.²
• You can borrow additional funds at the current rate. The resulting mortgage will be charged at a blended interest rate.³

You can also use the portability option if you have Loan Protection life or disability insurance on your current mortgage but won't qualify for it with a new one. Just "port" your mortgage and keep the insurance in place.

Renew early

Save money and take advantage of current interest rates by renewing your ATB mortgage early.

• "Early" means within 90 days before expiry.
• If you renew more than 90 days before your mortgage term expires, a payout penalty may be applied. You can choose the port or the blend and extend option to reduce the impact of any prepayment penalty.
• If you have an open mortgage, you can renew early at any time without penalty.

Blend and extend

Extend the term of your fixed-rate mortgage before your maturity date and avoid any prepayment penalties by blending and extending.⁴ It's a good choice if you're renewing early, buying another home, or refinancing because blending and extending can result in a lower interest rate. The new closed term you choose must be longer than your existing term.

For example:

• Your existing mortgage of $250,000 has a 6.5% fixed-interest rate with a remaining term of 10 months.
• You want to renew early for a 5-year term, which currently carries a 5% rate.
• Assuming there is no increase to your principal and no prepayment penalty, you can blend the existing and new rates, in this example to 5.25%, by extending for a new term of five years.⁵

With the blending and extending option, you can also borrow additional funds at the current rate. Again, the resulting rate will be a blended rate.

How would blending and extending work on your mortgage? Use the Mortgage Blender Calculator.