A mortgage that lets you access the equity in your home.

The Alterna Multi-Option Mortgage lets you combine your home financing and credit options, all within one account. 

What makes the Multi-Option Mortgage unique?

Alterna’s Multi-Option Mortgage allows you to use the equity in your home to manage all your credit needs. It’s like a line of credit and mortgage combined into one to help you meet your changing financial needs.

family playing with their kids and toy cars

How does the Alterna Multi-Option Mortgage work?

If you currently have more than 20% equity in your home, you can access additional credit worth up to 80% of your home's current market value. In other words, your mortgage and other loans can total up to 80% of the appraised value of your home.

Over time, as you pay down your mortgage, you can easily draw on this growing equity you have in your home.

You can use your Multi-Option Mortgage to get the credit you need. Whether you want to do some renovations, take a vacation or want the comfort of knowing you have access to “just-in-case” funds, you’re covered.

Benefits of the Multi-Option Mortgage

For example: Janet and Bob have paid down half of their mortgage (originally, seven years ago, it was $400,000. Now it’s $200,000). They’d like to do some renovations and buy a car. A Multi-Option Mortgage can provide them with the money they need, at a lower interest rate than other finance options.

That would mean Janet and Bob’s Muiti-Option Mortgage portfolio could look like this:

example of a present home value vs 80% home value amounts

Contact an Alterna mortgage specialist to find out how you can make the most of the equity in your home.

Our current mortgage rates

5-yr fixed closed –
high ratio

interest rate APR

 5-year variable closed – high ratio 

interest rate APR

5-yr variable

interest rate APR

*rates subject to change

Get Started

Whether you’re getting your first mortgage, renewing, switching or refinancing, we’re here to help you every step of the way. Start with a conversation—find out how easy it can be. Contact one of our Mortgage Specialists today.


How to choose the best mortgage option

Consider these 8 things to help you pick a mortgage that's right for you. 

What is a 'mortgage stress test'?

Find out if you'll be able to afford your mortgage if interest rates rise.

Your mortgage renewal checklist

Use this checklist to review all your options when your mortgage is up for renewal.

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How can we help?

†Payment Protection Legal Disclaimer:
Creditor’s group insurance coverage is optional and is underwritten by Co-operators Life Insurance Company. Supporting services, such as enrollment intake, medical underwriting and claims administration are provided by the employees of CUMIS Services Incorporated. Coverage is governed by the terms and conditions of the creditor’s group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details.

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