¤ Only available to members with less than 20% down payment, a residential property with a purchase price under $1,000,000, the amortization is 25 years or less, owner occupied, and who are eligible for and purchase mortgage default insurance. As of August 1, 2024, qualified first-time home buyers purchasing new construction intended for homeowner occupancy, and who are required to purchase mortgage default insurance, will be able to amortize their mortgage over 30 years. CMHC insurance is subject to eligibility conditions, limitations and exclusions. All applicants must meet the Vancity lending criteria. The annual percentage rate (APR), compounded semi-annually, not in advance. The APR is for a mortgage of $100,000 with monthly payments and a 25 year amortization. APR assumes no fees apply. You may be required to pay additional fees which would increase your APR. Rate is subject to change or may be withdrawn without notice at any time.
◊ Some conditions apply. Available to Vancity members on new and renewing mortgages where the mortgage loan-to-value is less than 75% and the amortization is 25 years or less. Must be owner occupied. All applicants must meet the Vancity lending criteria. Rate is subject to change or may be withdrawn without notice at any time.
ᶲTerms and conditions apply. The mortgage blend and extend option lets you renew your mortgage immediately for a new term. Vancity will blend your existing fixed-term fixed-rate interest rate with a new fixed-term fixed-rate interest rate. Your blended mortgage rate will be in between these two interest rates and extends the maturity date for another longer term. No mortgage prepayment penalty fees apply for this blend and extend mortgage option. Member requests for an increased mortgage loan for the new term are subject to meeting Vancity’s lending criteria. Your new interest rate will depend on the circumstances of your mortgage including for example the number of months remaining on your current term, the amortization of your mortgage and the loan to value ratio of your mortgage. Member requests for an increased mortgage loan for the new term are subject to meeting Vancity’s lending criteria. Increases to the mortgage loan may also be subject to mortgage re-advance and property evaluation fees.Your new interest rate will depend on the circumstances of your mortgage including for example the number of months remaining on your current term, the amortization of your mortgage and the loan to value ratio of your mortgage. Member requests for an increased mortgage loan for the new term are subject to meeting Vancity’s lending criteria. Increases to the mortgage loan may also be subject to mortgage re-advance and property evaluation fees.
