Open rate that is linked and fluctuates with the credit union’s prime rate. You can choose a 1, 2, or 3 year term. You can switch to a closed fixed rate or made additional payments at any time with no penalty. This is ideal if you are planning to sell your home soon or want be able to make extra payments.
Find the perfect mortgage for your perfect home.
Enjoy the advantages of an RCU Mortgage
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Pre-approved mortgages have rates guaranteed for 120 days – if the posted rate changes during the 120 days, you’ll get the lower rate.
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Flexible prepayment options – Prepay up to 20% of your principal annually, without penalty.
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Fast Approvals – We work hard to get you approved and provide the funds as quickly as possible.
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Portable – Take your mortgage with you if you move, penalty-free.
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Personalized support – Our team of mortgage experts will make sure you have tailored advice and a plan for every step of the process.
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High-ratio insured mortgages available up to 95% through CMHC.
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Mortgage Protection Insurance – Get a low rate (and peace of mind) on mortgage insurance. Ensure that your assets are protected by puchasing Life, Critical Illness, Disability, or Loss Of Employment Insurance.
What kind of mortgage are you looking for?
Open Variable Rate Mortgage
High Ratio Mortgage
If you have good credit and a steady income but less than a 20% downpayment, CMHC insurance could help you with that dream home purchase.
Closed Variable Rate Mortgage
Closed rate that is linked and fluctuates with the credit union’s prime rate. This is a 3 year term and to break the term early involves a 90 day interest penalty. Extra payment is allowed on the anniversary date up to a maximum of 20%.
Fixed Rate Mortgage
A fixed mortgage interest rate available for terms from 1 to 5 years. Extra payment is allowed on the anniversary date up to a maximum of 20%. To break the term early involves a 90 day interest penalty.
Start your RCU Mortgage application
Our Mortgage Rates
Turn to us for a mortgage that gets you on the fast track to home ownership!
| FIXED RATE MORTGAGES | Rate |
|---|---|
| 1 year |
5.79
|
| 2 years |
5.59
|
| 3 Year |
4.79
|
| 4 Year |
4.59
|
| 5 Year |
4.49
|
| VARIABLE RATE MORTGAGES | Rate |
|---|---|
| Open (1, 2, 3 years) |
6.24
|
| Closed |
5.70
|
Get your full mortgage picture
Choose a mortgage rate and we'll help you figure out a payment option that works for you.
Government programs for first-time home buyers
First-Time Home Buyer Incentive
This program from the Canadian government helps lower mortgage costs for first-time home buyers. If you qualify, the government will offer 5% for the purchase of a home or 5% or 10% for a new construction as a shared equity mortgage. This helps reduce your mortgage payments without increasing your down payment.
Home Buyers’ Plan
Through this plan you can withdraw up to $35,000, in one calendar year, from your RRSP to buy or build a qualifying home. You need to pay back this amount within 15 years.
First-Time Home Buyers’ (FTHB) tax credit
You can claim a $5,000 income tax credit from the government the same year you buy a home.
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