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The unmortgage

What is it that sets apart an ING DIRECT unmortgage^® from anything else you may have heard about?

For one thing, we make your choice simple: a Fixed or Variable Rate Mortgage. Of course, with whichever one you choose, we will always give you our lowest rate both now and upon renewal – no haggling, no hassles. In order to choose a mortgage that's right for you, here are some things to consider:

Fixed Rate	Variable Rate
Featuring...
1 to 5, 7, and 10 year terms	5 year term only
Payments are fixed for the term	Low interest rate of ING Prime ( ) -0.30 for the entire term
Closed	Payment amount is adjusted every three months if there has been a change to the ING Prime Rate.
What's in it for you
If you want the security of knowing what your payments will be, then this is the mortgage for you. Your rate and payment will not change for the term that you select. No surprises.	Our variable rate term allows you to take advantage of low interest rate periods. When ING Prime Rate is low, you'll pay less. There is no guarantee that Prime will not change. But don't worry – you can lock into a 3 year fixed rate term or more anytime at no charge.

At ING DIRECT we believe the best mortgage is no mortgage at all. That's why our mortgages are designed to help you pay it off faster and save your money. In other words, unmortgage yourself. Here's how...

Always our lowest rates

You always get our lowest rate up front and at renewal without hassle. We guarantee it.

120 day rate guarantee

On applying, we'll guarantee your fixed rate for 120 days. If rates fall during the rate guarantee period, you will naturally be given the lower rate.

25/25 prepayment options - the most flexible on the block

Each year, you have the freedom to increase your regular payments by up to 25% of your original payment amount. Also, throughout the year, you can make lump sum payments totaling up to 25% of your original mortgage amount – on any regular payment date. No waiting for the anniversary date.

Find out how much you could save with these options by using our handy payment calculator. Combined with our low interest rate, these options could help you save thousands of dollars in interest and help you own your home sooner.

Amortization options

You can amortize your mortgage up to 35 years to help make your regular payments more manageable. The longer the amortization, the more interest you pay. That's why we have tools that can help you reduce the amount of interest you pay, including our 25/25 prepayment options. Our handy mortgage payment calculator can help you decide which amortization is right for you.

Payment frequencies

You can select from monthly, semi-monthly, weekly, bi-weekly, as well as accelerated weekly and bi-weekly payment options. The more frequently you pay, the more you could save. Our mortgage payment calculator will help you choose the right payment frequency for you.

Skip a payment

When the unexpected happens, ING DIRECT has you covered. Our conventional mortgage allows you to skip a payment once a year and pay it back when it's convenient for you. The interest portion of the skipped payment is simply added to the principal amount and accumulates interest.

Portable & assumable

The unmortgage has built in flexibility that will help you adjust to changes in your life. Should you decide to move, you can rest easy that your ING DIRECT unmortgage can help. The unmortgage is portable and assumable. If you decide to sell your home, you can either take your mortgage with you (port) or give your buyer the opportunity to take it over (assume) – penalty free, at your current rate, term and loan amount.

Mortgage Life Insurance

Our Mortgage Life Insurance option is an easy and inexpensive way to ensure your family’s home is secure should the unthinkable happen. Coverage provides your family up to $500,000 to pay off your unmortgage balance. The application process is short and simple and no medical examination is required for most borrowers. Your insurance premiums will never increase for the life of your unmortgage with ING DIRECT and they’re conveniently included as part of your regular unmortgage payments. Want to learn more? Ask one of our Mortgage Experts. They can help you decide whether Mortgage Life Insurance is right for you.