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Be it your first home, your dream home or both, we offer competitive rates, flexible terms and personalized advice for a mortgage that fits your budget and your life.

Northsave Mortgage Special

For your first home, your dream home, or anything in between.

Great rates and the right advice for:

  • New mortgages
  • Renewals
  • Renovations
  • Recreation and more!
Rates subject to change without notice.

* 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 4.99%, with a 60 month term which will be repaid in 300 months with payments of $1,162.07 per month. Cost of borrowing for this duration with no altered payments is $48,561.50.

CreditMaster® mortgages: a different kind of lending solution

Northern Savings members enjoy exclusive access to CreditMaster® mortgages and home equity lines of credit, a unique home financing solution that helps you build a mortgage-free tomorrow, without sacrificing your freedom today.
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Unique, flexible lending options

Unlike mortgages offered by most financial institutions, the CreditMaster® mortgage is re-advanceable – which means it’s easy to access some of the money you’ve paid down.
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Level up your borrowing power

As you pay down your mortgage, you can easily tap into your home equity to consolidate debts, finance a home reno, or pay for a big purchase – without additional legal fees.

Explore our flexible home financing options

House hunting? Get pre-approved and lock in your rate for 120 days!

Fixed Mortgages

Enjoy predictable mortgage payments, without the worry of interest rate ups and downs.

  • Select a fixed payment frequency of your choice
  • Finance up to 95% of the value of your home purchase
  • Access up to 80% of the equity in your current home
  • Choose from closed term options of 6 months to 5 years or a 1 year open term
  • Prepay up to 20% of your original balance annually on the anniversary date
  • Increase your payments by up to 100% at any time during the term 

Open Variable Mortgages

Enjoy the flexibility of making lump sum payments or pay off your mortgage at any time without penalty.

  • 3 year term available
  • Interest rates fluctuate with Prime Rate changes
  • If rates decrease, more of your regular payment is applied to your principal
  • Ability to convert into fixed rate term at any time, without paying a penalty
  • Finance for up to 95% of the value of your home purchase
  • Access up to 80% of the equity in your current home

Closed Variable Mortgages

Benefit from potential interest rate decreases over time and enjoy flexible prepayment options.
  • 5 year term available
  • Interest rates fluctuate with Prime Rate changes
  • Increase payments by up to 100% any time during the term
  • Prepay up to 10% of your original balance annually on the anniversary date
  • Ability to convert into fixed rate term at any time, without paying a penalty (some conditions apply)
  • Finance for up to 95% of the value of your home purchase
  • Access up to 80% of the equity in your current home

Home Equity Line of Credit (HELOC)

Pay for life’s big purchases or even your everyday borrowing needs, with easy access to cash through our Prime Line HELOC.

  • Borrow up to 65% of your home’s value
  • Interest rates fluctuate with Prime Rate changes
  • Finance a home reno, your kids’ education, or any other big purchase
  • Pay off the line of credit at any time and use it again without having to re-apply
  • Pay lower interest rates than with credit cards or other loans

Construction Mortgages

Found the perfect spot to build your dream home? Get cash flow to cover construction costs with flexible terms for changes in plan.

  • Loan advances for different construction stages
  • Only pay interest on advanced loan amounts
  • Interest-only payments while your home is built
  • Minimum 25% down payment
  • Open or closed terms at competitive fixed or variable rates
  • Amortizations of up to 25 years

Give your home-construction project a safety net

Our local insurance experts can get competitive quotes for a short-term policy to cover the construction phase or an annual policy that can easily converts once the home is completed.
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EnergySave Mortgages and Loans

Invest in energy-saving upgrades for your home, and save on borrowing costs with low-interest lending options
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EnergySave Loans

Finance your green home upgrade with affordable rates and flexible payment terms.

  • Loan amounts starting at $3,500
  • Prime + 0.75%*
  • Terms up to 10 years

Eligible Upgrades

  • Insulation
  • Energy efficient windows and doors
  • Heat pumps and energy efficient furnaces
  • Solar panels

Want to make sure your project qualifies?

Contact us

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EnergySave Mortgages

Renewing or refinancing your mortgage? Roll in the cost of your upgrades at discounted rates.

  • Loan amounts starting at $5,000
  • Borrow up to 65% of your home's equity
  • Up to 0.75% off posted mortgage rates* 

Find more rebates and offers

Check out provincial and national green incentive programs


Ready to apply?

Start your new home journey in just a few clicks with our easy online application.

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Try our mortgage calculator

Find out how much home you can afford with different terms and payments.

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Check out our competitive rates

Enjoy fixed or variable rate options based on Northern Savings’ Prime Rate.

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Need help getting started?

Our team of local mortgage experts can answer your questions.

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Tips for your mortgage journey

Whether you’re buying your first home, renewing or refinancing, find out what you need to get started.

When you apply for a mortgage, we’ll book an appointment with you to review your situation and go over your options.

In your appointment, you’ll need to provide:

  • Proof of income, like a T4 or recent paystub if you’re a salaried employee. If you’re a seasonal employee, business owner or self-employed, you’ll need to provide T1 General Tax Returns and other tax documents.
  • Details on your home purchase, like a Purchase Agreement or a Realtor Spec Sheet
  • Information about your assets, including investment statements and a list of all the property and assets you own
  • Your total outstanding debts, including credit card, loan, mortgage and line of credit balances
Learn more

When shopping around for a mortgage, you’ll need to consider:

  • How long you want your amortization period to be: This is the total length of time it will take to pay off the balance in full.
  • Open or closed: Open mortgages allow you to pay back your mortgage in full at any time; closed options have more limits on how much principal you can pay back and when
  • Fixed or variable: You might choose fixed if you prefer a set interest rate for the full length of the term, but variable could be a good option if you’re comfortable letting your mortgage float with interest rates.
  • Options for payment increases and making extra payments
  • Penalties for paying off your mortgage early

Find out more about the different types of mortgages available and key terms that you’ll encounter in your mortgage journey.

Learn more


The RRSP and FHSA are two of the top tools for saving a down payment.    

  • Use up to $35,000 of your RRSP savings (or $70,000 for a couple) to help finance your down payment on a home 
  • To qualify, the RRSP funds you're using must have been deposited at least 90 days prior 
  • Under the Home Buyers’ Plan (HBP), you must be considered a first-time buyer, and intend to occupy the home as your principal residence within one year after buying or building it  
  • The First Home Savings Account (FHSA) is a registered plan to save for your first home tax-free  
  • You can save up to $40,000 in an FHSA and contribute up to $8,000 per year, with unused contribution room carrying forward 

Find out more about financing a down payment and get tips on qualifying for a mortgage faster.  

Learn more 


*Terms and conditions are subject to change. On approved credit. For applications meeting eligible energy efficient upgrades. Cannot be combined with other outstanding promotions, discounts or offers.


Protect your home from the unexpected

For homes and budgets of any size, we’ve got flexible coverage options to help you protect the things that matter most.

Plan for your other financial goals

Homeownership is just one of your dreams. Let our team of financial planning experts help you figure out the rest.

Credit cards that fit your lifestyle

Enjoy rewards points, 24/7 security, robust coverage options and convenient mobile payments with a Northern Savings card.


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