Mortgages

Spring Mortgage Specials are here!

Could you use some extra cash?

With WFCU’s Cashback Mortgage special, get up to $4,500 cash when you renew or refinance your mortgage with us.

5.49%*   5-year, fixed conventional mortgage

In the market for a new home?

We’re now offering rates as low as 4.99%.

4.99%*   5-year, fixed core mortgage

Get this offer!

The WFCU Difference

Your home is one of the biggest investments you will ever make, so make sure you speak with a WFCU Credit Union mortgage specialist before taking the plunge. Purchasing property can be complicated, but we are here to make the process simple and as straight-forward as possible for you.

Whether you are buying your first home, refinancing, or looking for a new home, our mortgages offer better rates, prepay options, same-day approvals and the expertise to design a custom solution that’s right for you.

  • Get pre-approved online, over the phone, or in one of our retail locations

  • Convenient payment options based on your needs – weekly, biweekly or monthly

  • Gain peace of mind with optional payment protection insurance, including life, critical illness, disability, or loss of employment insurance coverage

Fixed-Rate Mortgage  |  Core High-Ratio Mortgage  |  Cashback Mortgage  |  MortgagePlus HELOC  |  MortgagePlus IMPROVEMENTS  | 
Mortgage Advantage Program

Fixed-Rate Mortgage

Members with a down payment greater than 20% will benefit from the security of a fixed interest rate while enjoying flexible repayment options. Features include:

  • 30-year amortization***
  • Fixed rates on terms from 6 months up to 7 years
  • Interest rate guaranteed for 90 days when purchasing and for 120 days for home construction mortgages
  • Flexible prepayment privileges to help you pay down your mortgage faster
    • Prepay up to 20% of the original mortgage balance on the anniversary date
    • Increase your payment amount by up to 20% each year on the anniversary date
    • Double up the regularly scheduled payment amount
  • When you sell your home, take your mortgage rate and term with you to your new property, or have the buyer assume your existing rate and term
  • Second mortgages at first mortgage interest rates, with sufficient equity

Mortgage elsewhere? Transfer it to us, and we'll pay the legal and appraisal fees associated with the mortgage.


Core High-Ratio Mortgage

A favourite for first-time home buyers, members with a down payment of less than 20% will benefit from this fixed-rate mortgage that offers

  • 25-year amortization
  • Insurance through CMHC or Sagen
  • Increase your payment by 10% each year, or repay up to 10% of the mortgage amount
  • Not available for refinancing or renewals

Cashback Mortgage

Members will enjoy the same benefits as the Fixed-Rate Mortgage but with the bonus of cashback to help pay for furniture, redecorating, moving expenses, and more. Features include:

  • Get 3% cashback on a 3-year fixed term, 4% on a 4-year fixed term, or 5% on a 5 or 7-year fixed term
  • Minimum $80,000 new mortgage funds to be eligible for cashback
  • Maximum cashback amount of $7,500

MortgagePlus HELOC

When you combine a mortgage with a home equity line of credit, you gain access to additional funds at a low interest rate.

Borrow against the equity in your home and enjoy the flexibility and freedom of being covered for both life's opportunities and surprises.

MortgagePlus IMPROVEMENTS

The house you buy may not always be the home you envisioned, but with MortgagePlus Improvements, we can make your new house your dream home.

MortgagePlus Improvements is the perfect alternative to a secondary loan. Offered at the same rate as our fixed-rate, 5-year mortgage, borrow more than the home purchase price for a new kitchen, a new bathroom, or a new backyard oasis!

Enjoy the opportunity to do renovations now, increasing your home's value and overall appeal.

Mortgage Advantage Program**

A mortgage with WFCU Credit Union means you qualify for an array of member-only benefits for as long as your mortgage remains with us. Enjoy over $1,000/year in savings on:

Daily Banking Discounts

  • Reduced service charges on our Diamond Chequing Account: Free for one year; 50% discount after one year

Automatic LOC Approval

  • Automatic approval of a WFCU Line of Credit for up to $10,000, with a 1.5% discount off the final calculated qualifying rate

No Renewal Fees

  • Mortgage renewal fees are waived for the life of the mortgage

Overdraft Protection

  • Automatic approval for up to $1,500 of Overdraft Protection
*The cashback offer is only available for applications received between March 15 and May 31, 2024 on a 5 year fixed conventional mortgage. The core special mortgage rate is only available to new WFCU mortgage holders for applications received between March 15 and May 31, 2024. All mortgage applications are subject to additional restrictions and conditions, credit approval and must be funded within 120 days of the application date. This offer may be changed or withdrawn at any time, without notice and cannot be combined with any other offers. Visit wfcu.ca/FinePrint for details.

**Terms and conditions apply.

***For fixed-rate mortgages with an amortization greater than 25 years, an additional 0.20% premium applies.