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Mortgage benefitsSpecial cash back offers!A mortgage testimonial from an Innovation member

Kyle Reid, Saskatoon Mortgage Specialist Kyle Reid, Saskatoon Mortgage Specialist Erin Chmiel, Saskatoon Mortgage Specialist Erin Chmiel, Saskatoon Mortgage Specialist
Fixed Mortgage Rates
Closed Fixed (Special)
6 Months 2.95%
1 Year 2.49%
2 Year 2.24%
3 Year 2.29%
4 Year 2.29%
5 Year 2.34%
6 Year 3.39%
7 Year 3.69%
See more mortgage rates
Choose the best mortgage for you

Mortgage calculator

    CMHC - Save thousands on your first home Expand/Collapse

    The Government of Canada’s First Time Home Buyer Incentive makes buying your first home more affordable.

    Learn more about the Shared Equity Mortgage (SEM) incentive that can save you THOUSANDS!

    What to know before your appointment Expand/Collapse

    Protect yourself against the unexpected Expand/Collapse

    A protection plan provides peace of mind for you and your loved ones. During a tough time, you can focus on your family. We'll focus on protecting you from financial loss.

    We have many affordable coverage options to keep your home and family safe. Ask us about your protection options.

    Already have a mortgage with us?
    It's never too late to add coverage to your existing mortgage. Enrolling is easy and we offer a 30 day free trial period. Ask us about your protection options.

    Pay your mortgage down faster Expand/Collapse

    Pay down your mortgage faster with our 20/20 pay-down option. You can choose one or both options:
    • Pay up to 20% of your original mortgage principal each year without penalty

    • Increase your monthly payments by 20% without penalty
    20% monthly payment example:

    Let's say you have the following mortgage:

    • Mortgage: $200,000
    • Rate: 1.99%
    • 25 year amortization
    • Monthly payment= $845.94

    You can increase your monthly payments by 20%.
    $845.94 x 20%= $169.19

    This means your maximum monthly payment could be $1015.13.

    If you pay $1015.13/month, your mortgage length changes from 25 years to 19.92 years!

    20% original principal example:
    Let's keep the same mortgage details.

    You can put up to $40,000 extra on your mortgage per year ($200,000 x 20%=$40,000) over the course of your mortgage without penalty. This would also change your mortgage length from 25 years to 19.92 years!

    If you'd like to take advantage of our 20/20 option, contact us today!

    Contact us!

    Call us for a mortgage today

    Disclaimers Expand/Collapse

    *Innovation Credit Union will lend for properties located in Canada only.

    **Additional information could be required depending on the type of construction project you are undertaking.

    These calculators are made available to you as tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please visit your branch to seek personalized advice from qualified professionals for all personal finance issues.

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