Desjardins Mortgage RatesRates updated:
Below you will find current Desjardins's posted 5-year fixed and variable mortgage rates. Use Ratehub.ca's comparison chart to evaluate other banks, brokerages and lenders against Desjardins and ensure you get the best mortgage rate!
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Desjardins mortgage rates overview
Desjardins Group is the largest cooperative financial group in Canada and the sixth largest in the world. It stays competitive with the big Canaidan banks by keeping its capital ratio well above the minimum regulatory requirements. Desjardins offers a wide range of mortgage products covering open and closed mortgages and fixed or variable mortgages.
A closed fixed-rate mortgage is Desjardins' most popular mortgage product. It is ideal if you seek payment stability. You may choose from 1-to 10-year terms with a rate hold of 90 days.
An open fixed-rate mortgage is perfect if you're looking to sell your home or are expecting a short-term inflow of funds that can be used to make payments to your mortgage. The interest rate remains stable until the end of term and can be paid back anytime, without penalties.
A closed variable rate mortgage is based on the prime rate, which is subject to market fluctuations. Variable rates are appealing because they carry lower interest rates than their fixed counterpart. The term is five years with a prepayment option up to 15% on the original principal amount. You may convert to a fixed mortgage rate at any time.
The open variable-rate mortgage also follows the prime rate. The term is one year and prepayment can be made at any time, in whole or in part, without penalty. You may convert to a fixed rate at any time.
Accessing Desjardins' mortgage rates
Desjardins mortgage rates are updated daily on Ratehub.ca. Their mortgage rates can be accessed by filling out an online form or by calling 1-800-224-7737.
Desjardins mortgage pre-approval
To receive pre-approval for a Desjardins mortgage, fill out an online application. An advisor will contact you and help you decide on the mortgage that's best for you.
Desjardins mortgage application check list
When buying a home with Desjardins, you'll need to provide the following information.
- Proof of income (pay stub, etc.)
- Proof of down payment
- Investment statements
- Federal Notice of Assessment
- Offer to purchase
- Proof of down payment
- Financial analysis (for income property)
- Photos of the building
- Cost evaluation of materials, and names of contractors
- Statement of income and expenses, as well as current leases for all units not occupied by the owner
- Municipal and school tax bills
- Copy of the Promise to Purchase, which has been duly accepted
- Copy of the preliminary contract, if the purchase is through a builder or developer
- Copy of the listing, if the purchase is through a real estate agent
More on Desjardins
In 2011, Desjardins Bank placed 20th in Global Finance’s list of ‘the World’s 50 Safest Banks.' They were also awarded the “Bank of the Year 2010 – Canada” by UK magazine, The Banker, which is why this long established financial institution maintains a reputable relationship among its 56 million clients in Canada and the US.