High Ratio Mortgage

The High-Ratio Mortgage gives you home-buying options even without a large down-payment. High Ratio mortgages must qualify for Canada Mortgage and Housing Corporation (CMHC) Insurance. These mortgages can finance up to 95% (under certain conditions) of the appraised value of your home.

Mortgage features

  • Down payments as low as 5% reduces initial cash outlay
  • The same features as a Conventional Mortgage but with an insurance requirement (see Terms and Conditions below)

This mortgage is the right option for...

  • Members who cannot make a 20% down payment, or
  • Members who wish to borrow against the equity in their homes to do renovations, but where the total loans would exceed 80% of the value of their property.

Accelerated Payments

Pay down your mortgage by accelerating your payments. Ask us about options like increasing your monthly payment, doubling your payment, and more
PenFinancial Credit Union doesn't make you guess or negotiate a mortgage rate: we always give you our best rate. See our mortgage interest rates online


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