Fixed Rate Mortgage

Choosing the right mortgage is as important as choosing the right home! We will show you the financial options available and help you choose the best mortgage to suit your budget, lifestyle and general needs.


  • Security of a locked-in interest rate for a chosen period of time
  • Save money with superior prepayment options
  • Convenient weekly or bi-weekly payment schedules can actually save thousands
  • Peace of mind with low-cost life, disability,critical illness and job loss insurance for single or joint coverage


  • Open or closed mortgages available
  • Flexible repayment term - choice of amortization
  • Renewal terms of 6 months to 5 years
  • Open mortgages provide you with maximum prepayment flexibility without penalty
  • Closed mortgages allow prepayment of up to 20% of your principal each year and the ability to double your payments without penalty
  • Competitive rates
  • Pre-approvals available  
  • Maximum amortization - 25 years
  • Semi-annual or monthly statement
  • With CMHC insurance, purchase financing is available for up to 95% of the purchase price or, for refinancing, you can obtain up to 80% of your current property value
  • Payments via automatic transfer from Progressive Credit Union account or Automatic Funds Transfer from another financial institution
  • Property taxes included in your payments and submitted each year by Progressive Credit Union on your behalf