Mixer Mortgage™
Share the pizza, split the bill.
Share the costs of home ownership with others with a mortgage rate, term, and amortization that works best for each individual person.
Key features.
Buy a bigger pie
Partnering with others makes it easier to afford the home you want. But it also means if one person can’t pay their share, everyone else is equally responsible for the entire amount of the mortgage.
Order it your way
Though your mortgage is shared, it’s yours to customize. Each person on the mortgage can have their preferred interest rate1 and type, term, and amortization.
More to love about this mortgage.
- Transfer your mortgage to a new property or buyer
The Mixer Mortgage is portable and assumable, which means you can transfer it to a new property with the same terms, or to a third-party homebuyer who will take over the remaining payments.2 - Option to add multiple-owner life insurance
Enjoy peace of mind when you add life insurance designed for multiple-owner arrangements. - Professional guidance and legal support
We’ll help you set up your mortgage, provide a referral for legal support to complete your co-ownership agreement, and secure investment protection advice from a Vancity Wealth Protection Investment Specialist. - Choose your rates, term, and amortization
With a Mixer Mortgage, you can choose from a variety of mortgage options to find the rates and terms for your lifestyle and budget. Explore all Vancity mortgage rates.
Buy your first home with less.
With a high-ratio insured mortgage loan, you could put as little as 5% down on the first $500,000 and 10% on the rest for a home that costs under $1.5 million. You’ll also get a reasonable interest rate, even with your smaller down payment.
Eligibility.
You are at least 19 years old
You live in British Columbia and have a BC address
The home you’re looking to purchase or build is in British Columbia
You pass the stress test
The stress test is a formula set by the Federal Government to ensure you’ll be able to afford your mortgage. To pass the stress test, you’ll need to qualify at the greater of the contractual mortgage rate plus 2%, or the OSFI Minimum Qualifying Rate (5.25%, as of December 15, 2022).
Find a specialist near you.
Interested in a new mortgage or refinancing? Browse our mortgage specialists to connect with someone in your area.
Talk through your questions.
For general mortgage inquiries or help with renewing your mortgage, book a time that works for you and we’ll give you a call back.
Explore other mortgage types.
Fixed-term variable mortgage
Great if you’re comfortable with a variable rate and want to take advantage of potential rate decreases during your term.
Fixed-term fixed-rate mortgage
Great if you want to count on making the same payment for your entire term.
Tools to help you get on track.
Some conditions apply. Preferred interest depends on mortgage loan-to-value, mortgage amortization and whether the home is owner occupied.
Assumption of the terms and balance of the mortgage is subject to third-party meeting Vancity lending criteria.