Rates

Mortgages Rates

Mortgage incentives up to $1,000 available! Speak to your advisor today! We offer a 120-day rate guarantee on all mortgages.

Promotional Mortgages

Effective Date (2022-09-08)

Rates

3-Year Fixed Closed - High Ratio Only1

4.39%

5-Year Fixed Closed - High Ratio Only1

4.49%

5-Year Variable Closed - High Ratio Only2

4.55%

Mortgage Options 

Fixed Rate Mortgages - Closed

Effective Date (2022-08-10)

Rates

6-Month Fixed Closed5

Posted Rate: 6.05%

1-Year Fixed Closed3

Posted Rate: 5.85%

Special Rate: 4.69%

2-Year Fixed Closed3

Posted Rate: 5.95%

Special Rate: 4.69%

3-Year High Ratio Fixed Closed1

Posted Rate: 6.05% 

Special Rate: 4.39%

3-Year Fixed Closed3

Posted Rate: 6.05% 

Special Rate: 4.79%

4-Year Fixed Closed3

Posted Rate: 6.10%

Special Rate: 4.79%

5-Year Fixed Closed3

Posted Rate: 6.20%

Special Rate: 4.84%

5-Year High Ratio Fixed Closed1

Posted Rate: 6.20%

Special Rate: 4.49%

5-Year Fixed Closed (Cash Back)5

Posted Rate: 7.09%

7-Year Fixed Closed5

Posted Rate: 7.60%

10-Year Fixed Closed5

Posted Rate: 7.85%

Fixed Rate Mortgages - Open

Effective Date (2022-06-22)

Rates

6-Month Fixed Open5

Posted Rate: 8.00%

1-Year Fixed Open5

Posted Rate: 7.05%

1-Year - 2nd Mortgage5

Posted Rate: 7.50%

Variable Rate Mortgages - Closed

Effective Date (2022-09-08)

Rates

3-Year Variable Closed4

Posted Rate: 6.55%

Special Rate: 4.90%

5-Year Variable Closed4

Posted Rate: 5.95%

Special Rate: 4.90%

5-Year High Ratio2

Posted Rate: 4.95%

Special Rate: 4.55%

Variable Rate Mortgages Open

Effective Date (2022-09-08)

Rates

3-Year Variable Open5

Posted Rate: 7.15%

1Promotional rate may be changed or withdrawn at any time without notice. Cannot be combined with any other offer or discount. Applicable for a high ratio mortgage with a 25-year amortization period and less than a 20% down payment. Applicable for purchases of a property valued at under $1,000,000 or subsequent renewing of such a loan. Borrower must purchase mortgage default insurance. Applicable for members switching their existing high ratio mortgage to Alterna. The switched mortgage must an active mortgage default insurance certificate. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate displayed. Rates calculated semi-annually not in advance. Subject to credit approval based on Alterna’s lending guidelines. Blends and refinances are not eligible. Applies to owner-occupied primary residential properties only. Fixed rate is discounted from the posted rate for the same term.

2Promotional rate may be changed or withdrawn at any time without notice. Cannot be combined with any other offer or discount. Applicable for a high ratio mortgage with a 25-year amortization period and less than a 20% down payment. Applicable for purchases of a property valued at under $1,000,000 or subsequent renewing of such a loan. Borrower must purchase mortgage default insurance. Applicable for members switching their existing high ratio mortgage to Alterna. The switched mortgage must an active mortgage default insurance certificate. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate displayed. Rates calculated monthly not in advance. Subject to credit approval based on Alterna’s lending guidelines. Blends and refinances are not eligible. Applies to owner-occupied primary residential properties only. Variable rate is discounted from the Alterna Prime Rate. Your interest rate will change whenever the Alterna Prime Rate changes.

3Special 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 displayed. Rates calculated semi-annually not in advance. Subject to credit approval based on Alterna’s lending guidelines. Fixed rate is discounted from the posted rate for the same term.

4Special 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 displayed. Rates calculated monthly not in advance. Subject to credit approval based on Alterna’s lending guidelines. Variable rate is discounted from the Alterna Prime Rate. Your interest rate will change whenever the Alterna Prime Rate changes.

5Posted rate may be changed or withdrawn at any time without notice. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate displayed. If fixed, rates calculated semi-annually not in advance. If open, the mortgage is open to prepayment, without penalty. If variable, rates calculated monthly not in advance and the rate is based on the Alterna Prime Rate. Your interest rate will change whenever the Alterna Prime Rate changes. Subject to credit approval based on Alterna’s lending guidelines.

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