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Homeprime mortgage (variable rate)

With a Vancity Homeprime Variable Rate mortgage, you’ll typically pay less interest because a variable rate is usually lower than a fixed rate option. And, you’ll make the same payments over the 5-year term even when the variable rate goes up or down. When the variable rate goes down, a bigger portion of your payment will go toward paying down the principal. When the rate goes up, a smaller portion of your payment will go toward the principal.

With our Variable Rate mortgage, you can choose to convert it to a fixed-rate mortgage for the remaining term or longer at any time. This flexibility gives you peace of mind, knowing that when your life circumstances change, you have the option to make a change to your mortgage too.​

Features and benefits

  • A flexible interest rate combined with fixed monthly payments
  • An open-term or fixed-term of 5 years
  • Up to 30-year amortization
  • Ability to convert to a fixed-term mortgage if interest rates rise (terms and conditions apply)
  • Flexible payment options, including weekly, bi-weekly, monthly, semi-monthly, accelerated weekly, and accelerated bi-weekly

Additional criteria for an insured mortgage include all of the following:

  • Residential owner-occupied homes
  • Homes with a purchase price of less than $1 million
  • Up to 25-year amortization

Mortgage rates

View our current mortgage rates.

How to apply

You can book an appointment for a Vancity mortgage online, or over the phone by calling Member Services Centre at 604-877-7000 or toll free at 1-888-Vancity (826-2489).

You can also contact a Vancity mortgage specialist to discuss mortgage options, ask questions, and receive personalized mortgage advice. Our specialists will travel to meet you at your home, office, or any other convenient location. Find a mortgage specialist in your area.

Book an appointment