Mortgage Rates

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2 Year Fixed Rate Closed Mortgage - High Ratio Only - 1.54%

Applicable for a High Ratio Mortgage where a borrower places a down payment of less than 20% of the purchase price on a home. For a purchase price of $500,000 or less, the minimum down payment is 5%. When the purchase price is above $500,000 and under $1,000,000, the minimum down payment is 5% for the first $500,000 and 10% for the remaining portion. Maximum property value of $1,000,000. To be eligible, applicants must purchase and qualify for mortgage default insurance. Special promotional rate may be changed or withdrawn at any time without notice. Cannot be combined with any other offer or discount. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the Interest rate 1.54%. Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Applies to owner-occupied residential properties only. Blend & Extends as well as Refinances are not eligible. GDS & TDS at time of approval based on the Bank of Canada conventional 5 year posted rate. GDS & TDS rules as per OCP: Beacon >/= 680, max TDS of 44% & max GDS of 39%; Beacon<680, max TDS of 42% & max GDS of 35%. Must be a mortgage whose purpose includes the purchase of a property or subsequent renewal of such a loan. Other conditions the same as our regular mortgage terms including; Regular pre-payment privileges: 20% annual lump sum; Payment increase up to double (aggregate prepayment can’t exceed 20% in one year). Mortgage Incentive Fees: Up to $1,000.

5 Year Fixed Rate Closed Mortgage - High Ratio Only – 1.84%

Applicable for a High Ratio Mortgage where a borrower places a down payment of less than 20% of the purchase price on a home. For a purchase price of $500,000 or less, the minimum down payment is 5%. When the purchase price is above $500,000 and under $1,000,000, the minimum down payment is 5% for the first $500,000 and 10% for the remaining portion. Maximum property value of $1,000,000. To be eligible, applicants must purchase and qualify for mortgage default insurance. Special promotional rate may be changed or withdrawn at any time without notice. Cannot be combined with any other offer or discount. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the Interest rate 1.84%. Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Applies to owner-occupied residential properties only. Blend & Extends as well as Refinances are not eligible. GDS & TDS at time of approval based on the Bank of Canada conventional 5 year posted rate. GDS & TDS rules as per OCP: Beacon >/= 680, max TDS of 44% & max GDS of 39%; Beacon<680, max TDS of 42% & max GDS of 35%. Must be a mortgage whose purpose includes the purchase of a property or subsequent renewal of such a loan. Other conditions the same as our regular mortgage terms including; Regular pre-payment privileges: 20% annual lump sum; Payment increase up to double (aggregate prepayment can’t exceed 20% in one year). Mortgage Incentive Fees: Up to $1,000.

5 Year Variable Rate Closed Mortgage High Ratio Only - 1.65% (Prime-0.80%)

Applicable for a High Ratio Mortgage where a borrower places a down payment of less than 20% of the purchase price on a home. For a purchase price of $500,000 or less, the minimum down payment is 5%. When the purchase price is above $500,000 and under $1,000,000, the minimum down payment is 5% for the first $500,000 and 10% for the remaining portion. Maximum property value of $1,000,000. To be eligible, applicants must purchase and qualify for mortgage default insurance. Special promotional rate may be changed or withdrawn at any time without notice. Cannot be combined with any other offer or discount. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the Interest rate 1.65% (Prime – 0.80%). Prime refers to the member Savings Prime Rate. Member Savings Prime Rate is 2.45% as of March 31, 2020. Your interest rate will change whenever the Member Savings Prime rate changes. Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Applies to owner-occupied residential properties only. Blend & Extends as well as Refinances are not eligible. Gross Debt Service (GDS) & Total Debt Service (TDS) at time of approval based on the Bank of Canada conventional 5 year posted rate. GDS & TDS rules as per Member Savings Operational Credit Policy: Beacon >/= 680, max TDS of 44% & max GDS of 39%; Beacon<680, max TDS of 42% & max GDS of 35%. Maximum amortization of 25 years. Must be a mortgage whose purpose includes the purchase of a property or subsequent renewal of such a loan. Other conditions the same as our regular mortgage terms including; Regular pre-payment privileges: 20% annual lump sum; Payment increase up to double (aggregate prepayment can’t exceed 20% in one year). Member Savings may cover mortgage-related fees up to $1,000. Subject to credit approval.

Residential Fixed Closed Mortgages

Special promotional rate may be changed or withdrawn at any time without notice. Cannot be combined with any other offer or discount. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate posted. Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Applies to owner-occupied residential properties only. Some conditions apply. Subject to credit approval.

Variable Rate Mortgages – Closed

Rates calculated monthly not in advance. These interest rates and terms are subject to change without notice. Posted mortgage rates. Due to local and proxy caching on the Internet, please ensure that you are viewing rates as at the current day's date. Rates are discounted from Member Savings' Prime Rate, which is 2.45% as of March 31 2021.

Note: Rates are provided for information purposes only and are subject to change at any time.