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Paragon Pragmatic Lending
1915 Foxtail Terrace, Kelowna BC V1P 1T9
BCFSA Brokerage License X301089
(778) 557-2144
[email protected]

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Copyright 2026 - All rights reserved. Paragon Pragmatic Lending.
Information is general and not legal, tax, or investment advice. Strategies like the Smith Manoeuvre (Maneuver) and cash or rental damming involve risk. Consult a qualified tax professional.
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Open vs closed mortgages

Compare flexibility, penalties, and who each structure fits.

Flexibility vs pricing

Open mortgages allow early repayment with minimal penalties but usually carry higher rates.

Closed mortgages offer better pricing with stricter prepayment rules.

Choosing the right option

  • Open terms for short timelines
  • Closed terms for lower rates

Frequently asked questions

Do open mortgages always have no penalty?

They usually allow full repayment without penalty, but review contract details.

Next step

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Information is general and not legal, tax, or investment advice. Review lender policies and contract terms before selecting a product.

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