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 (2024-02-02)

Rates

3-Year Fixed Closed - High Ratio Only1,2

5.59%
APR: 5.65%

5-Year Fixed Closed - High Ratio Only1,2

5.14%
APR: 5.18%

5-Year Variable Closed - High Ratio Only1,3

6.85%
APR: 6.89%

Mortgage Options 

Fixed Rate Mortgages - Closed

Effective Date (2024-02-02)

Rates

6-Month Fixed Closed2

Posted Rate: 7.14%
APR: 7.50%

1-Year Fixed Closed2

Posted Rate: 7.44%

Special Rate: 7.14%
APR: 7.32%

2-Year Fixed Closed2

Posted Rate: 7.44%

Special Rate: 7.04%
APR: 7.13%

3-Year High Ratio Fixed Closed1,2

Posted Rate: 6.89% 

Special Rate: 5.59%
APR: 5.65%

3-Year Fixed Closed2

Posted Rate: 6.89% 

Special Rate: 6.39%
APR: 6.45%

4-Year Fixed Closed2

Posted Rate: 6.40%

Special Rate: 6.09%
APR: 6.14%

5-Year Fixed Closed2

Posted Rate: 6.45%

Special Rate: 5.99%
APR: 6.03%

5-Year High Ratio Fixed Closed1,2

Posted Rate: 6.45%

Special Rate: 5.14%
APR: 5.18%

5-Year Fixed Closed (Cash Back)2

Posted Rate: 7.44%
APR: 7.48%

7-Year Fixed Closed2

Posted Rate: 7.95%
APR: 7.98%

10-Year Fixed Closed2

Posted Rate: 8.20%
APR: 8.22%

Fixed Rate Mortgages - Open

Effective Date (2023-08-08)

Rates

6-Month Fixed Open2,4

Posted Rate: 8.50%
APR: 8.86%

1-Year Fixed Open2,4

Posted Rate: 8.00%
APR: 8.18%

1-Year - 2nd Mortgage2,4

Posted Rate: 8.50%
APR: 8.68%

Variable Rate Mortgages - Closed

Effective Date (2023-07-13)

Rates

3-Year Variable Closed3

Posted Rate: 8.55%

Special Rate: 7.00%
APR: 7.06%

5-Year Variable Closed3

Posted Rate: 7.95%

Special Rate:6.90%
APR: 6.94%

5-Year High Ratio1,3

Posted Rate: 7.95%

Special Rate: 6.85%
APR: 6.89%

Variable Rate Mortgages Open

Effective Date (2023-07-13)

Rates

3-Year Variable Open3,4

Posted Rate: 9.15%
APR: 9.21%

The rates above are for general informational purposes only and are subject to meeting Alterna’s lending guidelines.

Promotional or special rates are discounted from the posted rate for the same term.

Posted, special and promotional rates are subject to change or withdrawal at any time without notice and cannot be combined with any other offer or discount, unless otherwise stated in any other offer or discount.

The Annual Percentage Rate (APR) is based on a $200,000 mortgage, 25 year amortization, for the applicable term assuming monthly payments and a property valuation fee of $350. If no fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate displayed.

For more information, and to find out more about our product terms, conditions, and application process, please visit us in branch, or call us at 1.877.560.0100.

1. Applies to owner-occupied primary residential properties only and only to customers for a high ratio mortgage with a 25-year amortization period and less than a 20% down payment, purchasing a residential 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 have an active mortgage default insurance certificate. Blends and refinances are not eligible.

2. Fixed interest rates calculated semi-annually not in advance.

3. Variable interest rates calculated monthly not in advance. Variable rate is discounted from the Alterna Prime Rate. Your interest rate will change whenever the Alterna Prime Rate.

4. Open mortgage provides the flexibility to repay all or part of the mortgage at any time during the term without paying a penalty.

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