Property Type: Owner-occupied primary residences (Rentals are permitted, but only for current Vancity home mortgage clients, or those who have a clear-title residence. 75% LTV max on rentals with 90% rental offset.)
Lump-sum Pre-payment Option: 20% once yearly
Payment Increase Option: 20% annually
The Saver’s Mortgage is available through approved Vancity brokers, Vancity branches and Vancity mortgage specialists.
Vancity is Canada’s biggest credit union with 400,000+ members. It lends in greater Vancouver (Pemberton to Hope, including Bowen Island) and greater Victoria, B.C.
Brokers: A buydown is required on this product. Given the razor-thin spread, that was the only way Vancity’s treasury department could offer it through the broker channel.