Desjardins Mortgage
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Compare & Apply →In 2026, with Canada's prime rate at approximately 7.20%, Desjardins Mortgage stands out for its competitive variable and fixed-rate options amid fluctuating conditions. This product suits homebuyers seeking reliable terms from a trusted Quebec-based credit union with nationwide reach. Now is an ideal time to compare, as welcome bonuses and rates shift frequently under FCAC oversight.
Key Features
- Variable rates from prime minus 0.50% (around 6.70% based on 7.20% prime)
- 5-year fixed rates starting at 5.99% for qualified borrowers
- Up to 95% loan-to-value (LTV) financing for first-time buyers
- Amortization periods up to 30 years on insured mortgages
- Prepayment privileges up to 20% of original principal annually
- Current welcome bonus: Check Desjardins website for latest offers; fees vary by product
Pros & Cons
Pros
- Personalized service from Desjardins caisses, especially strong in Quebec
- Flexible terms including cash-back options up to 3% on select mortgages
- Online tools for rate comparisons and pre-approvals
- Competitive for members earning standard rates on related savings products
- Strong focus on first-time buyers with high LTV approvals
Cons
- Limited physical branches outside Quebec, Ontario, and Atlantic Canada
- Fees vary and can include appraisal costs (typically $300–$500 CAD)
- Rates may not always beat big banks like RBC during promotions
- Membership or existing relationship often preferred for best rates
How It Compares
| Provider | 5-Year Fixed Rate (est.) | Appraisal Fee | Max LTV |
|---|---|---|---|
| Desjardins | 5.99% | Varies ($300+ CAD) | 95% |
| RBC Mortgage | 6.09% | Waived for some | 95% |
| TD Mortgage | 5.89% | $400 CAD avg. | 95% |
Note: Rates as of 2026 estimates; always verify with providers.
Who It's For
Desjardins Mortgage is perfect for Quebec residents, Desjardins members, and first-time buyers needing high LTV and flexible prepayments in CAD. It's also suitable for Ontario and BC homebuyers valuing credit union service over big-bank volume, though in BC compare with Vancity and in ON with Meridian for localized rates.
How to Apply
- Visit Desjardins.ca or a local caisse to use the mortgage calculator and check rates.
- Gather documents: ID, proof of income, Equifax/TransUnion credit report, down payment details.
- Submit online application or book an advisor appointment for pre-approval (valid 90–120 days).
- Undergo appraisal and finalize with legal review under FCAC guidelines.
FAQ
Can newcomers get a Desjardins Mortgage?
Yes, permanent residents or those with 6+ months on a valid work permit can qualify, subject to Equifax/TransUnion credit checks and income verification.
What credit score do I need?
Typically 680+ on Equifax/TransUnion for best rates; scores above 720 unlock lowest variable rates around prime -0.50%.
Are there penalties for breaking the mortgage early?
Yes, 3 months' interest or interest rate differential (IRD) on fixed terms; variable has minimal prepayment penalties.
Does it offer cash-back or bonuses?
Current welcome bonus varies—check site; up to 3% cash-back on closing costs for select promotions.
Is Desjardins Mortgage insured?
High-ratio mortgages (LTV >80%) require CMHC insurance; Desjardins handles the process seamlessly.
Not financial advice. Rates and offers change. Read provider terms.
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Compare & Apply →Our Methodology
BGR evaluates Canadian mortgage products using a 6-factor model based on CMHC and FCAC guidelines, updated quarterly.
Data sources: FCAC, CMHC, issuer websites, Equifax Canada, TransUnion Canada. Last audit: June 2026.