Facts About Mortgages

We want to help you understand the decisions you need to make before you buy, and the options you should consider to pay for your home.  Understanding Mortgages >


Looking for a mortgage? You've come to the right place. When you choose to do business with Northern Savings, funds go to work in our communities, supporting local people, businesses, and organizations.

Benefit from Competitive Rates

Northsave Mortgage Specials*
Northsave Mortgage 1 Year Closed 7.05%
Northsave Mortgage 2 Year Closed 6.79%
Northsave Mortgage 3 Year Closed 6.69%
Northsave Mortgage 4 Year Closed 6.29%
Northsave Mortgage 5 Year Closed† 5.99%

Lock Down Your Rate

Found a rate you like? Call your local branch to lock down your 90 day rate guarantee!

Our local lending experts are your neighbours and will look at your entire financial picture to ensure your mortgage works for you now and in the future. 

What Our Members Are Saying...

"I’ve found mortgages to be very stressful thus far being my first time. After spending nearly two months with a mortgage broker and getting little to no feedback during that time.

Calling Northern Savings was the best decision I have ever made. You took on my file and within four days had put everything together and had a final approval for me.

I want to thank you for your professionalism and high quality service! You have made this process so much easier. Answering all the questions I have had along the way, no matter how big or how small, as well as guiding me through the process and leading me towards my next step.

I also appreciate that you have worked with my schedule to ensure I don’t have to miss work. You have provided me with the best possible service, advice and guidance."

Terrace Member, June 2023

The CreditMaster® - A Different Kind of Mortgage

At Northern Savings we offer the CreditMaster® mortgage product. The CreditMaster® is flexible and re-advanceable, which makes it unique to mortgages offered by other financial institutions.

Stuck between choosing a fixed and variable rate mortgage? You can choose both with CreditMaster®. You can even move some of your mortgage into a home equity line of credit (Prime Line), paying just the monthly interest, or as much as you want.

As you pay down your mortgage and your property value increases, your borrowing power builds. CreditMaster® allows you to use the equity in your home to consolidate debt, fund your child's education, renovate your home or even start a new adventure, without any additional legal fees.


  • Terms from 6 months to 5 years
  • Finance up to 95% of the value of your home
  • Maximum amortization of 25 years
  • Competitive rates
  • 90 day rate guarantee


  • Attach multiple loan agreements to your mortgage with different rates and terms
  • Add additional loans whenever the need arises without additional legal fees
  • Pay off your mortgage sooner with our flexible payment options (weekly, bi-weekly, semi-monthly, or monthly)

Be Prepared

Get your money faster; come prepared to your lending appointment.  Learn more >
    *Applicable to residential mortgages only and subject to Northern Savings Credit Union's lending criteria for residential properties. Rates are subject to change without notice. Rates are based on risk. Rates may be higher depending on the application and type of property selected. See your branch for more details.

    †The Annual Percentage Rate for a representative mortgage of $200,000 which has an appraisal fee of $450 and lawyer’s fees estimated at $1400 with interest compounded semi-annually not in advance, with an interest rate of 5.640%, with a 60 month term which will be repaid in 300 months with payments of $1,237.13 per month. Cost of borrowing for this duration with no altered payments is $54,822.59.