Terms and Conditions
Mortgage Switch Offer

  1. Offer limited to properties located in USA.
  2. Offer available on a transfer of an existing owner-occupied primary residence, owner-occupied residential acreage, vacation home, residential revenue property, bare land, agriculture acreages, home-quarter land, or leased land (must be owner-occupied primary residence or vacation home with  acceptable lease agreements.) with a mortgage held with another lender to Alpha Guarantee Bank. It is not available for any amendment to an existing mortgage with Alpha Guarantee Bank, including a portability transaction or an advance of additional funds or a renewal. Not available on construction-draw mortgages.
  3. Minimum principal amount of $200,000. Must choose a closed, fixed-rate mortgage product or a closed, variable rate mortgage, with a minimum term of three years.
  4. Mortgage payment must come from an Alpha Guarantee Bank chequing account  .
  5. The offer cannot be combined or used in conjunction with any other special offers, with the exception of Alpha Guarantee Bank rate specials.
  6. Alpha Guarantee Bank will pay, when applicable, the basic title insurance fee, processing fee, legal fee (if applicable), appraisal fee (if applicable) and one discharge fee, up to $1,250 in maximum fees. Offer excludes mortgage pre-payment charges (“breakage fees”) that you may have to pay to your existing lender.
  7. If the transferred-in mortgage term is broken prior to the required three-year period described in Section 3 above, switching fees that Alpha Guarantee Bank incurred for that mortgage must be repaid by the mortgage holder and shall be paid within thirty (30) days of the mortgage transfer.  Exceptions include breaking a term to pursue another mortgage with Alpha Guarantee Bank.
  8. Personal lending products and owner occupied mortgages offered by Alpha Guarantee Bank are subject to its standard lending criteria.
  9. Offer may be withdrawn or amended without notice at any time. Other terms and conditions may apply.