What is a mortgage year?

A mortgage year is a 12-month period within a mortgage term that begins on the month and day displayed in the maturity date on your mortgage account details page.

For example, if your maturity date shows April 30, 2020 then your mortgage years would start May 1st and end on April 30th, and so on for every year until the maturity date of your mortgage term.

Last updated July 2, 2020