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Mortgage cash back
Get up to $3,000 cash back on eligible mortgages.¹
Don’t let increasing interest rates stress you out. Now is the perfect time to lock in a great rate early by getting pre‑approved or planning ahead for your mortgage renewal by switching to Vancity.
To get started, talk to a specialist about:
When it comes to your mortgage, find an interest rate that complements your financial well-being.
Get our pros on it
Meet a mortgage specialist over the phone.
Lock it, rock it
As an existing member, you can manage documents and signatures virtually to finish your mortgage or pre-approval application and guarantee your rate for 120 days⁵.
Get up to $3,000 cash back
Receive your cash back within 5 days of your mortgage being funded.
Your dream home can present itself at any moment. Getting pre-approved means:
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No. You can choose when to deduct them on your income tax file while continuing to invest. Deduct them now, or in a future year, or even divide them between years. Waiting to deduct contributions may increase your tax savings.
We suggest you check with your tax advisor or your Vancity investment professional before electing to carry-forward RRSP deductions.
Yes. Many people forget they can contribute even without current earned income (for example, after retiring). If you have unused RRSP contribution room from past years and funds available, contributing to your own or your spouse's RRSP is allowed up until the end of the year the planholder turns age 71.
Watch out for special situations where contributing to an RRSP may not make sense. For example, where you'll lose eligibility for the Guaranteed Income Supplement (GIS), or your tax rate when withdrawing in retirement will be much higher than your initial tax savings. Other options, such as a Tax Free Savings Account (TFSA), might be more appropriate for your circumstances.
Talk to us. We can help you create a plan to catch up on unused RRSP contribution room.
$100,000 to $299,999.99
$1,000
$300,000 to $499,999.99
$1,200
$500,000 to $749,999.99
$2,000
$750,000 and up
$3,000
¹ When you purchase a new property and are taking a new personal mortgage loan (“Mortgage”) with Vancity or move your existing Mortgage from another financial institution to Vancity with a Mortgage value amount of CA$100,000 or more with a four year fixed term or greater, you may receive a cash back bonus (the “Cash Back”) of $1,000 for mortgages between $100,000 up to $299,999.99; $1,200 for mortgages between $300,000.00 up to $499.999.99; $2,000 for mortgages between $500,000.00 up to $749,999.99; and $3,000 for mortgages greater than or equal to $750,000.00. An appraisal fee may apply. The Vancity Mortgage Cash Back Offer may be changed or withdrawn at any time without notice. For full details view Terms and Conditions.
² 5-Year Homeprime Fixed Term Mortgage interest rate is compounded monthly, not in advance. Vancity's Homeprime mortgage offers you a low variable interest rate based on Vancity's Homeprime rate over a 5-year fixed term. The Homeprime represents a variable rate of interest announced by Vancity from time to time as its Prime Lending Rate. Rate changes when Vancity Homeprime changes. Rates subject to change without notice. The APR is for a mortgage of $100,000 with monthly payments and a 25 year amortization. APR assumes no fees apply. You may be required to pay additional fees which would increase your APR.
³ Some conditions apply. Available to Vancity members on new and renewing mortgages where the mortgage loan-to-value is less than 75% and the amortization is 25 years or less. Must be owner occupied. All applicants must meet the Vancity lending criteria. Rate is subject to change or may be withdrawn without notice at any time
⁴ Some conditions apply. All applicants must meet the Vancity lending criteria. The annual percentage rate (APR), compounded semi-annually, not in advance. The APR is for a mortgage of $100,000 with monthly payments and a 25 year amortization. APR assumes no fees apply. You may be required to pay additional fees which would increase your APR. Rate is subject to change or may be withdrawn without notice at any time.
⁵ 120 day rate guarantee is only applicable for mortgage applications pre-approved on or after February 11, 2022.