(Prime -0.80%)
Variable-Rate Mortgages
With WFCU Credit Union and its divisions’ 5-Year variable mortgage, you have the flexibility to decide when to get off the ride.
With our closed variable mortgage, pay less when rates drop – but, at any time, you can lock in – seamlessly switching to a fixed-rate mortgage for the rest of your term.
Insurance through CMHC or Sagen
Up to 30-year amortization for new builds or first-time home buyers, 25-year amortization for everything else
Available on home values up to $1.5 Million
Get This Variable Mortgage Rate
Fill out the form and one of our member consultants will start the process!
Prefer to skip the form? Contact a branch near you or email info@wfcu.ca.
Available through all of our divisions.

Variable-Rate Closed vs. Open Mortgages
Variable-Rate Closed
Variable-Rate Open
How is a Variable Interest Rate Calculated?
A variable interest rate is determined in two parts: the Interest Rate Differential and the WFCU Prime Rate. The Interest Rate Differential is specific to you, the member, and your credit score. It remains constant during the term of your mortgage and is referenced as plus (+) or minus (–) a percentage amount. This is the only portion backed by a WFCU Rate Guarantee for Variable-Rate Mortgages. This is then added or subtracted from the WFCU Prime Rate tied to the Bank of Canada’s rate to give you your current variable interest rate.
When the Bank of Canada lowers its rate, the WFCU Prime Rate may also lower, lowering the variable rate charged on your mortgage from that point forward. Inversely, if the Bank of Canada increases its rate, the WFCU Prime Rate may also increase, increasing the variable rate charged on your mortgage going forward.
Variable-Rate Mortgage vs. Fixed-Rate Mortgage
Variable-Rate Mortgage
Fixed-Rate Mortgage
Need another reason to move forward with a variable mortgage with WFCU and its divisions?
The variable mortgage rate is only part of the story.
Through our Mortgage Advantage Program, qualifying members gain access to a world of exclusive member benefits that extend far beyond the numbers. When you choose us, you’re not just getting a competitive rate; you’re gaining access to a host of privileges reserved solely for our valued members. And the best part? These benefits stay with you as long as your mortgage journey continues with us. From personalized financial guidance and preferential rates on other products, to special offers and community events, your membership ensures you’re part of a supportive network that’s dedicated to your financial well-being. With a mortgage, you’re not just a borrower; you’re a member of a community committed to helping you thrive.
Daily Banking Discounts
Unlock significant savings on your daily banking activities with our exclusive offer tailored to our Diamond Chequing Account. For the first year, enjoy the convenience of a fee-free account, allowing you to manage your finances without the worry of service charges. Even after the initial year, you’ll continue to benefit from a generous 50% discount on service charges, making banking with us both seamless and cost-effective.
Automatic Line of Credit Approval
Simplify your financial journey with our streamlined process for securing a Line of Credit. Qualifying mortgage holders will enjoy the convenience of automatic approval, providing you with swift access to up to $10,000 in credit. What’s more, benefit from a 1.5% discount off the final calculated qualifying rate, ensuring that your borrowing comes with favourable terms.
No Variable Mortgage Renewal Fees
We believe in transparency and providing our valued customers with long-term financial benefits. That’s why we are committed to waiving mortgage renewal fees for the entire duration of your mortgage. This means you can enjoy the security and convenience of knowing that your financial commitment won’t be burdened by unexpected renewal charges.
Overdraft Protection
Gain peace of mind with our comprehensive Overdraft Protection feature. With automatic approval for up to $1,500 of coverage, you’ll never have to worry about unexpected expenses pushing your account into the red. This safety net ensures that your transactions are covered, preventing potential disruptions in your financial obligations.
Mortgage Health Check
Your home is one of the biggest investments you will ever make. We recognize the significance of this purchase and understand how complicated the decision-making process can sometimes be. Our mortgage specialists are here to make the process as simple and straightforward as possible for you. Whether you are buying your first home, refinancing, or looking for a new home, our mortgage solutions include better rates, prepayment options, same-day approvals, and the expertise to design a custom package that’s tailored to you. Contact us for a Mortgage Health Check today and we’ll ensure you’re set up for a successful and stress-free experience.
*Visit myWFCU.ca/FinePrint for details.