Latest Canadian Mortgage Rates
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$0 Downpayment Program:
Explanation:
This product allows the client to borrow the 5% that is required to purchase a home in Canada. The bank is able to recoup the 5% down payment through the interest gained in the first 5 year term of the mortgage. The client must have good job stability, a strong credit score, and ability to make future payments.
Criteria:
- 680 credit score
- 1.5% of purchase price to cover closing costs
- Term must be 5 or 7 years, fixed rate, closed term, at posted rate
- Secure job position
| Financial Institution | Mortgage Term | ||||||
Variable | 6 Mth | 1 Year | 2 Year | 3 Year | 4 Year | 5 Year | |
CanEquity Mortgage | 2.15*/2.15 | 3.75 | 2.35 | 2.95 | 3.49 | 3.99 | 3.89 |
AGF Trust | - | 4.65 | 2.75 | 2.95 | 3.45 | 3.99 | 3.94 |
ATB Financial | 2.25 | 4.65 | 3.6 | 3.95 | 4.45 | 5.19 | 4.29 |
Alterna Bank | - | 4.4 | 3.35 | 3.65 | 3.79 | 4.19 | 4.19 |
Alterna Savings | - | 4.4 | 3.35 | 3.65 | 3.79 | 4.19 | 4.19 |
Bank of Montreal (BMO) | 2.25 | 4.65 | 3.5 | 3.75 | 4.25 | 5.19 | 5.59 |
Bank of Nova Scotia | 2.25 | 4.65 | 4.35 | 3.95 | 4.5 | 5.19 | 5.59 |
Bridgewater Bank | 5.75 | - | 5.99 | 5.75 | 3.64 | - | 4.19 |
CIBC Mortgages | 2.25 | 4.65 | 3.6 | 3.75 | 4.25 | 5.19 | 5.59 |
Caisses Desjardins | - | 3.5 | 3.5 | 3.75 | 4.25 | 5.19 | 5.59 |
Canadian Western Bank | 2.25 | 4.65 | 3.65 | 3.75 | 4.25 | 5.19 | 5.59 |
Canadian Western Trust | 2.25 | 4.65 | 3.65 | 3.75 | 4.25 | 5.19 | 5.59 |
Citibank | - | 4.65 | 3.6 | 3.75 | 4.25 | 5.19 | 5.59 |
Comtech Credit Union | - | 6.6 | 2.99 | 3.99 | 3.99 | 3.99 | 4.15 |
Concentra Financial | - | 4.65 | 4.35 | 3.95 | 4.25 | 5.19 | 5.59 |
DUCA Financial Services | 2.15 | 4.4 | 2.99 | 3.5 | 3.6 | 3.9 | 3.99 |
Effort Trust | - | 3.75 | 3.75 | 3.9 | 4.4 | 5.2 | 5.5 |
Equitable Trust | - | - | 3.8 | 3.95 | 4.45 | 5.29 | 5.59 |
First Calgary Savings | - | 4.65 | 3.6 | 3.75 | 2.99 | 3.59 | 3.99 |
First National Financial LP | 2.25 | 4.6 | 2.65 | 2.95 | 3.5 | 3.99 | 4.09 |
FirstLine Mortgages | 2.25 | 7.9 | 2.8 | 3.35 | 3.85 | 4.3 | 4.39 |
FirstOntario Credit Union | 2.25 | 4.35 | 2.9 | 3.65 | 3.85 | 4.09 | 4.25 |
HSBC Bank Canada | 2.25 | 5.2 | 4.5 | 5 | 5.15 | 5.44 | 5.84 |
Home Trust Company | - | - | 2.65 | - | 3.5 | - | 4.09 |
ICICI Bank Canada | 3.5 | - | 4 | 4.25 | 4.5 | 4.85 | 5.85 |
ING Direct | 2.15 | - | 2.65 | 3.15 | 3.49 | 3.99 | 3.99 |
Investors Group Trust | 3.25 | 4.65 | 3.6 | 3.75 | 4.25 | 5.19 | 5.59 |
Key Savings & CU | - | 4.65 | 3.4 | 3.65 | 2.99 | 4.74 | 3.99 |
Laurentian Bank Canada | 2.25 | 3.85 | 3.6 | 3.75 | 4.25 | 5.2 | 5.6 |
League Savings & Mortgage | - | 4.65 | 3.6 | 3.75 | 4.25 | 5.19 | 5.59 |
Libro Financial Group | - | 4.45 | 3.6 | 3.75 | 4.25 | 4.9 | 5.1 |
London Life | 3.25 | 4.65 | 3.6 | 3.75 | 4.25 | 5.19 | 5.59 |
Macquarie Financial Ltd. | 2.25 | - | 2.74 | - | 3.59 | - | 4.19 |
Manulife Bank | - | 4.5 | 3.5 | 3.75 | 3.85 | 4.1 | 4.19 |
Meridian Credit Union | 2.25 | 4.65 | 3.6 | 3.75 | 4.25 | 3.99 | 4.15 |
National Bank | 2.25 | 3.6 | 3.6 | 3.75 | 4.25 | 5.19 | 5.59 |
Ontario Civil Service CU | - | 6.1 | 2.99 | 4.4 | 3.55 | 4.69 | 4.84 |
PACE Savings & CU | - | 4.65 | 4.35 | 3.95 | 4.25 | 5.19 | 5.59 |
Parama Credit Union | 2.25 | - | 3.25 | 3.6 | 4.15 | 4.5 | 4.95 |
Peace Hills Trust | - | 6 | 5 | 4.5 | 4.65 | 5.25 | 5.85 |
President's Choice Financial | 2.25 | 6.84 | 2.9 | 3.4 | 3.64 | 4.14 | 4.24 |
Promutuel Capital | - | 3.75 | 3.8 | 4.15 | 4.6 | 4.95 | 4.99 |
ResMor Trust | 2.3 | - | 2.99 | - | 3.79 | - | 4.19 |
Royal Bank of Canada (RBC) | 2.25 | 4.65 | 3.6 | 3.75 | 4.25 | 5.19 | 5.59 |
Servus Credit Union | - | 4.65 | 3.6 | 3.75 | 4.25 | 5.19 | 5.59 |
So-Use Credit Union | - | 6.3 | 2.75 | 3.85 | 3.65 | 4.15 | 4.35 |
Steinbach Credit Union | - | - | 3.1 | 3.4 | 3.7 | 4.05 | 4.35 |
TD CanadaTrust | 2.25 | 4.6 | 3.65 | 3.95 | 4.5 | 5.19 | 5.59 |
Ukrainian Credit Union | - | 4.75 | 2.65 | 3.85 | 3.68 | 3.99 | 4.19 |
Virtual One Credit Union | - | - | 3.5 | 4 | 4.5 | 5 | 4.11 |
Windsor Family CU | - | 4.75 | 3.9 | 4.5 | 4.65 | 4.85 | 5.45 |
Your Credit Union | 3.75 | - | 3.6 | 3.95 | 4.5 | 5.19 | 4.1 |
Your Neighbourhood CU | - | - | 3.5 | 3.9 | 4.25 | 4.75 | 4.85 |
**Rates are updated periodically
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