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Special Offers

5-Year Fixed High Ratio (Insured)


5-Year - Closed


5-Year - Variable Closed


Kawartha Prime


Understand Mortgages

Pre-approved mortgages

We can pre-approve your mortgage, in writing, to make home buying easier. When you're ready to buy, you've got the solid financial backing of Kawartha Credit Union. Our pre-approved mortgages come with a 60-day protected interest rate.

Take your mortgage with you when you sell

If choose to sell and are moving within Ontario, you can take your existing mortgage balance, rate and term to your new property. Conditions apply.

Mortgage insurance

Buying a home is one of the biggest investments you'll ever make. Let us help you protect yourself and your family from life's uncertainties with mortgage insurance.

Mortgage prepayment

If you choose to pay off your outstanding mortgage balance prior to your closed-term maturity date, or choose to pay an amount greater than the prepayment privileges outlined in your original mortgage documents, you will incur a Mortgage Prepayment charge.

High-ratio mortgage

If your down payment is less than 20% of the property value, you’ll require mortgage default insurance offered by either CMHC or SAGEN.

Know your options

Our All-In-One mortgage is a re-advanceable mortgage that uses property as security and secures one or more loan agreements over this collateral mortgage charge. You can use the equity in your home for one or more loans.

You can even move some of your mortgage into a home equity line of credit, paying as little as the monthly interest.

A residential All-In-One Mortgage is:
  • a collateral mortgage that is re-advanceable
  • available for residential and investment properties
  • available with fixed or variable rates
  • available with 6-month to 5-year terms
  • available with weekly (accelerated or non-accelerated), bi-weekly (accelerated or non-accelerated), monthly, and semi-monthly payment schedules
  • available with pre-approvals and creditor insurance

The option to re-advance makes our All-In-One Mortgage a powerful financial planning tool. Re-advance the money paid toward your principal and as property values rise and the outstanding balance of your mortgage goes down, your borrowing power increases, allowing you to attach new loan products (like term loans, or a Home Equity Line of Credit) to your existing All-In-One Mortgage without paying additional fees. To do so, you will have to qualify for the additional funds and the collateral charge may have to be registered for a sufficiently higher amount.

This mortgage interest rate fluctuates with the prime rate while payments remain the same. If prime goes down, more of your payment is applied to the mortgage. If prime increases, more goes to the interest. You can also pay off some, or all, of your mortgage at any time, for no additional cost.

Features and benefits
  • Interest rate varies with the Kawartha Prime Rate plus 1.00% but your payments remain the same
  • You can switch to a fixed-rate mortgage or make additional payments any time with no penalty
  • Available on conventional or insured mortgages
  • Cut years off your mortgage by increasing your payments at any time

Our Fixed Rate Mortgage offers you the security of locking in your interest rate for the term of your mortgage. This means you'll know exactly what to expect, including:

  • The interest rate of your mortgage
  • The amount of your regular mortgage payments
  • The portion of your payment that goes toward principal and interest
  • The amortization of your mortgage (how long it will take to pay it off)

Features and benefits
  • Available on 1 to 5-year terms
  • You won't have to worry about future interest rate fluctuations during your mortgage term

Canadian mortgages insurers, Sagen and CMHC (Canada Mortgage and Housing Corporation), offer insured mortgages that include the added benefits of funding for home improvements. The Purchase Plus Improvements Program helps qualified home buyers add home improvement costs to their mortgage with as little as a 5% down payment. This feature allows borrowers to make improvements to their home immediately after taking possession.

Whether you need a new roof, a state-of-the-art kitchen, or a backyard sanctuary, your mortgage will be based on the purchase plus the improvement costs up to the qualified percentage of the purchase price.

What do you need to provide?
  • Offer to purchase
  • Contractor’s estimated costs for Kawartha Credit Union and your insurer to review 
  • Pre-approval from the insurer and Kawartha Credit Union

How does it work?
  • Funds will be held in a renovation account and will be disbursed as needed. You will be required to submit receipts for the construction work or repairs.
  • An appraisal may be required before and after the repairs.
  • A timeline to complete renovations/improvements must be provided (usually a 3 month timeframe).

What are the benefits?
  • Upon approval, a Purchase Plus Improvements Mortgage allows you to buy a home, renovate it to your liking, and pay for it all in one mortgage payment. This flexible product enables you to not only buy a home that's more affordable because of the updating required, it also allows you the freedom to customize your renovations.
  • One payment under your mortgage without the need for additional lending solutions such as a line of credit or credit cards to fund the renovations.
Why choose the Purchase Plus Improvements program?
  • Easier access to home ownership and home equity
  • Purchase and upgrade a home to meet your unique needs 
  • Add renovation costs into the mortgage for one easy, manageable payment

Things to consider
  • Are you planning on making your home energy-efficient?
  • What would your dream home include?
  • Are you planning on making renovations to your home?
  • What upgrades would you like to make?

Types of improvements possible:
  • Flooring upgrades
  • Kitchen and/or bathroom updates
  • Windows and doors
  • Basement finishing
  • Roof replacement
  • Family room upgrades
  • Energy-efficient upgrades

What can you afford?

Crunch some numbers with our easy to use Mortgage Calculator.

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Let’s get started!

Attention lawyers and lenders: How to request a payout statement

As of April 22, 2024 Kawartha Credit Union's payout statement requests process will be changing to
an automated service provided by FCT.

Please visit the FCT website to submit your payout statement request.
Contact Us: 1-855-670-0510
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