Variable Rate Mortgage

Variable Rate Mortgage

Our variable rate mortgage option is ideal for customers who watch interest rates carefully and expect interest rates to stay stable or to drop.

Apply online

visit a branch near you or call 604-517-0100 to get started today.

Take advantage of interest rate fluctuations with a Variable Rate Mortgage.

Mortgage Features

  • A five-year residential mortgage where payments remain fixed for the duration of the term but the interest rate fluctuates*
  • Low variable interest rate (see mortgage interest rates for current variable rates)
  • Weekly and accelerated bi-weekly payment options**
  • Ability to double-up payments on any payment due date
  • 20% of the original balance can be repaid without penalty on each anniversary date of the term
  • Mortgages are assumable and portable
  • If interest rates increase members have the option to increase their payments or convert to a fixed rate mortgage
  • Can be converted to a Regular Mortgage at any time without penalty or cost

Term & Conditions

  • Maximum mortgage amortization period is 30 years
  • Interest compounds monthly
  • Suspension of scheduled payments not permitted
  • Variable rate mortgages apply to first mortgages only
  • Life and disability insurance available

We always give you our best rate.

Westminster Savings doesn't make you guess or negotiate a mortgage rate: we always give you our best rate. See our mortgage interest rates online.


* The ratio of funds allocated towards either principal or interest may fluctuate when interest rates change.  If rates drop more money will be allocated towards the outstanding principal and if they rise more will be applied to interest

** More options are available; speak to a credit union staff person for details

 

Today's rate

Variable Rate Mortgage

3.70%

5 Year Variable Special Insured

3.10%

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