Desjardins Mortgage Rates and Specials


As of February 14, 2024

As of February 14, 2024

Best Rates
Other Details
  • 1 Year Fixed


    Payment: $18,94/mo

    15/15 pre payment
  • 2 Year Fixed


    Payment: $18,94/mo

    20/20 pre payment
  • 3 Year Fixed


    Payment: $18,94/mo

    20/20 pre payment
  • 4 Year Fixed


    Payment: $18,94/mo

    20/20 pre payment
  • 5 Year Fixed


    Payment: $18,94/mo

    20/20 pre payment
  • 10 Year Fixed


    Payment: $18,94/mo

    20/20 pre payment
  • 5 Year Variable


    Payment: $18,94/mo

    20/20 pre payment

Desjardins Mortgage Overview

Desjardins is the largest credit union amalgamation in Canada, serving both Ontario and Quebec markets with some of the best mortgage rates in their markets.

Desjardins takes an interesting approach to pricing its mortgage rates, by rewarding those with higher credit with mortgage rates lower than competitive big banks can offer. This is especially true of their ‘uninsured’ mortgage program that provides mortgages for homes valued over $1,000,000 and for refinance transactions.

Conventional Mortgages

Desjardins is often a go to for mortgage brokers looking to offer their clientele conventional or uninsured mortgage rates that will often beat even the most competitive rates in the market.

This is especially true for clients seeking higher mortgage approvals, such as $500,000 or more, with higher credit scores than 720. When this is the case Desjardins can very often be the market leader in rate. The two types of conventional mortgages are for houses valued over $1,000,000 or mortgage refinances.

Mortgage Refinance

The mortgage refinance program with Desjardins requires a very clean application with strong supporting income and pristine credit. But for those who fit this category and are looking for any of the following, the mortgage interest savings could be considerable:

  • Debt consolidation
  • Money for investment
  • Home renovation projections or upgrades

Perhaps in recent times mortgage payments have become too expensive, so in this lender is also able to increase the amortization during times of high rates for allow for more payment comfort. 

There are generous 20% annual pre payment privileges however, so the mortgage can be paid down faster even if the amortization has been increased.

High Ratio Mortgages 

There are instances where using higher down payment isn’t possible – in these instances, Desjardin provides clients with mortgage of 95% of the purchase price or 5% down payment. This path to home ownership requires the use of a mortgage default insurance. The default insurance protects the lender from default risk and in return, the lowest insured mortgage rates are available to the clients throughout the life of the mortgage. Mortgage default insurance coverage is maintained for the life of the mortgage as long as the mortgage is not broken or refinanced throughout the life of the mortgage, 

Mortgage Default Insurance

Mortgage default insurance premium costs are dependent on the amount of down payment and can range from 1-4%. With 4% balance premium applying to 5% down payment purchases and as little as 1% on down payments approaching the 20%.

The mortgage default insurance can be added to the mortgage balance to not add to the out-of-pocket expenses.

Desjardins Cottage Mortgage Program

The Desjardins cottage mortgage program is one of the most unique in the market. Desjardins will lend on cottages in Quebec and Ontario that most other lenders will not lend on. The borrower must demonstrate considerable application strength, but when this is possible, there are opportunities for ‘type b’ cottage mortgages that can’t be found elsewhere. 

Desjardins Purchase Plus Improvements Mortgages

The purchase plus improvement program provides clients with a means to make upgrades and renovations to their homes. Available for newly purchased or already owned properties, this program makes funds available for the non structural upgrades. These include but are not limited to kitchen cabinets, bathroom upgrades, outdoor landscaping. Clients are asked to choose a reputable and trustworthy contractor to complete the work and Desjardin finances the project with mortgage-issued funds. Helping clients create their home renovation vision.