Not all mortgages are created equal.  In fact most mortgages, even within a single financial institution, will vary from one another. Pre-payment privileges, portability, increased payment and extra payment privileges, payment holidays, and all sorts of other issues come into play.

Your own particular needs and desires must be understood by your Mortgage Broker or Banker and then be considered what deciding which of these and many other specific rights and obligations are important or even necessary for you to have in your mortgage. Make sure these issues are addressed and explained fully so you will make the best decision possible for your borrowing needs.

One key clue to just how restrictive a mortgage is likely to be is simply the interest rate.  Most often the lower it is the more restrictive the mortgage itself will be.

There is an excellent article on this topic in Canadian Mortgage Trends here The Devil In The Fine Print