Whether you're a first-time homebuyer or just need mortgage advice, we can help.  No two households’ financial needs are the same. You can trust that Provincial Credit Union will provide you with honest advice and mortgage products that fit your needs. We will help you on your journey to achieving your homeownership goals.

We will provide you with honest advice when it comes to saving for a down payment, buying a home, refinancing, renewing, using the equity in your home, renovations, energy efficient upgrades such as a heat pump, reviewing incentives for first-time homebuyers, and more.

Mortgage Options

We can help you choose a mortgage that’s right for you.  Our mortgage experts will explain the different mortgage types in clear and easy-to-follow language and will help you make the best decision for your family and lifestyle.

With a fixed-rate mortgage, your rate is fixed or locked in for the entire term of your mortgage, so your payment stays the same. Your interest rate also stays the same therefore you know how much interest you will pay for the whole term and what your balance will be at the end of your term.

A variable mortgage rate is based on prime rate, and will change if prime rate fluctuates, however your monthly payments will stay the same. Therefore, if prime rate reduces you will pay more towards your principal amount allowing you to pay off your mortgage faster and save money in interest costs.


A Conventional mortgage is a property loan that does not exceed 80% of the purchase price or appraised value of the home and does not require loan insurance. 


With a Collateral mortgage, the money borrowed can be used to buy a property or can be used for another purpose, such as a home renovation, debt consolidations or a vacation.


An open-term mortgage lets you make payments ahead of schedule, refinance or re-negotiate or pay  off your mortgage in full without paying a penalty.   It’s a good choice if you think you will be able to pay your mortgage off early or are looking to sell your home.


Interest rates for closed term mortgages are generally lower than open term mortgages.  If you decide to pay off your mortgage completely, prior to the end of your closed term, you will pay a penalty.

Total Access Home Equity

Total Access Home Equity™ is a collateral mortgage that establishes an initial credit limit up to 80% of  your home’s current value. With one approval, you  can access this credit through multiple borrowing products, including mortgage loans, lines of credit,  and overdrafts.

Mortgage Secured Line of Credit

This is a great option for anyone who is confident in their ability to manage the line of credit responsibly and anyone who can ensure that a payment schedule will be put in place to manage the funds. Funds can be used for any reasonable purchase, such as home renovations, a new car, etc.

Mortgage Features

  • Competitive rates with fixed and variable rate options.
  • Flexible repayment terms including pre-payment options. We want you to pay down your mortgage faster and save money!
  • Amortization up to 25 years.
  • Open mortgage option that gives you the flexibility to pre-pay with no interest penalties.
  • Pre-approvals so you will know what you can afford.
  • Low-cost life, loss of employment, critical illness and disability insurance.

Tools and resources

Mortgage Calculators
Check out our helpful mortgage calculators to determine how much you can borrow, estimate your mortgage payment, compare scenarios, and to see which mortgage product is right for you.


Guide to Homebuying
Buying your first home? Check out our Guide to Homebuying for information designed specifically for you. 

Check out other mortgage ressources here.


Home buying checklist 
A quick checklist of what you should bring to a meeting with your financial expert.

Home ownership cost checklist
A checklist of the common household costs that come with purchasing a home.

Ready to buy a home or have questions?

To start your pre-approval, we will require information about your current financial situation, including these topics:

  • Income
  • Outstanding debts, such as personal loans, student loans, credit cards, etc.
  • Monthly expenses
  • Assets, such as investments, vehicles, etc

Already have mortgage at another financial institution?

Let us know and we’ll have a look to see if switching would be to your benefit.

Interested in updating or renovating your current home?

Perhaps a Total Access Home Equity product is right for you.  Whatever the situation, we’d be happy to discuss how improving your current home will work for you.

*On approved credit. Certain terms and conditions apply. Limited time offer.  5-year fixed rate.