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Variable Rate Mortgage

  1. Personal
  2. Home Financing
  3. Mortgage Options
  4. Variable Rate Mortgage

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.

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

Prepay up to 20% of the original loan amount per anniversary year and increase 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.

Available in a 5 year term

Mortgage Calculators

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

Ready to apply or have questions?

  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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