Fixed-term Homeprime mortgage

Fixed term, variable rate.

5 years
Up to 30 years
Book an appointment
Great if

You're comfortable with a variable rate and want to take advantage of potential rate decreases during your term.

Key features.

Variable interest rate, fixed payments.

When the variable rate goes down, more of your payment goes towards the principle. When the variable rate goes up, less of your payment goes toward the principle. To maintain your amortization schedule, we recommend you increase your payments when the variable rate increases.

Financial flexibility.

A re-advanceable feature allows you to diversify your interest rate risk by splitting your mortgage into Homeprime (variable rate) and fixed-rate components.

More to love about this mortgage.

Choice of payment frequency

Make payments weekly, bi-weekly, monthly, semi-monthly, accelerated weekly or accelerated bi-weekly. Paying more frequently will save you interest and shorten the time it takes to pay off your mortgage.

Options to prepay

Get some repayment flexibility, with options to prepay up to 20% of your original balance once per mortgage year and increase payments by up to 20% once per mortgage year.

Bring this mortgage with you if you move

When you buy a new home, you can transfer this mortgage to your new property and keep the same terms and conditions, including the interest rate.

Ability to assign the mortgage to another party

Transfer your mortgage with the original rates and terms to someone else. If you’re selling your home, this can give you a market advantage if current rates are higher than when you first took on your mortgage.

Current rates.

Homeprime (variable) rate††: 6.95%

Homeprime rates are tied to the Vancity Prime rate. The current Homeprime rate is effective as of July 1, 2024. Any changes to the Vancity Prime rate will be seen in the Homeprime rate at the beginning of the calendar month.

Rates (APR) as of 2024-07-06
5-year Homeprime fixed-term (Vancity Homeprime rate - 0.40%)†† 6.55%
5-year Homeprime open-term (Vancity Homeprime rate + 3.30%)†† 10.25%
Calculate what your payments could look like Book an appointment

Buy your first home with less.

With CMHC mortgage loan insurance, you could put as little as 5% down on the first $500,000 and 10% on the rest for a home that costs under $1 million. You’ll also get a reasonable interest rate, even with your smaller down payment.

Explore insured mortgages



You are at least 19 years old.


You live in British Columbia and have a BC address.


The home you’re looking to purchase or build is in British Columbia.


You pass the stress test.

The stress test is a formula set by the Federal Government to ensure you’ll be able to afford your mortgage. To pass the stress test, you'll need to qualify at the greater of the contractual mortgage rate plus 2%, or the OSFI Minimum Qualifying Rate (5.25%, as of December 15, 2022).

Take the next step.

Find a specialist near you

Interested in a new mortgage or refinancing? Browse our mortgage specialists to connect with someone in your area.

Browse our directory

Talk through your questions

For general mortgage inquiries or help with renewing your mortgage, book a time that works for you and we’ll give you a call back.

Book a phone appointment