Saskatchewan Variable Rate Mortgages

A variable mortgage allows you to take full advantage of changing interest rates over the course of your term.

  • Repayment plans to suit your needs with a fixed payment1
  • Interest rate fluctuates based on TCU's prime lending rate
  • Available for both conventional and high ratio mortgages2
  • Both open and closed options available

Choose between an open or closed variable rate mortgage.

Open Variable Rate Mortgage

Pay off as much as you want, when you want with no prepayment penalties. Flexibility to convert to a closed mortgage at any time.

1 Year term available

Repay up to 15% of the original loan amount per calendar and up to double your regular monthly payments before prepayment penalties apply. Ability to lock in your interest rate by converting to a fixed rate mortgage of 3 years or longer.

Up to 7 Year Terms available

Mortgage Calculators

Our easy-to-use calculators can help you build a borrowing plan and determine your flexible payment options.

Let’s Talk Mortgages

Our Member Experience Team is here to help you understand your options and make the decision that is best for you. We take a solution-based approach to securing your mortgage to ensure all your financial needs are taken care of.

If you have questions, we have answers.

  1. Payments can be made weekly, bi weekly, semimonthly or monthly.
  2. Conventional mortgages require a minimum down payment or equity position of 20%. Mortgages with less are considered high ratio and must be insured through Canada Mortgage and Housing Corporation (CMHC) of Genworth Corporation. Must meet certain approval conditions. Cost of credit and any fees associated with the loan will be disclosed at time of approval. Payment amounts may need to be adjusted depending on interest rate fluctuations. This is reviewed annually by TCU and you will be advised if any adjustments are necessary.
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