*Fixed high ratio promo and fixed special rates are discounted rates from the posted rates. If a mortgage product is not listed with high ratio promo or special rates, the posted rate will apply.

Special Rates

¹Special Rate: Fixed Rate Mortgages - Closed

Special rate may be changed or withdrawn at any time without notice. Cannot be combined with any other offer or discount. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate displayed. Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000 may be granted, subject to conditions.

Promotional Rates

²3 Year Fixed Rate Closed Mortgage - High Ratio Only – 3.04%

Special promotional rate may be changed or withdrawn at any time without notice. Applicable for a high ratio mortgage with a 25 year amortization period for members with less than 20% down payment, purchasing a residential property valued at under $1,000,000 or subsequent renewing of such a loan, who are eligible for and purchase mortgage default insurance and meet other conditions. This promotional rate is also available for members switching their existing high ratio mortgage, which has the lesser of 25 year amortization period or the remaining amortization of the mortgage to be switched to Alterna. The switched mortgage must also have had less than a 20% down payment at another financial institution and an active mortgage default insurance certificate; be a residential property with an original purchase price under $1,000,000; and meet other conditions. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate 3.04%. Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000. Blends and refinances are not eligible. Applies to owner-occupied primary residential properties only.

³5 Year Fixed Rate Closed Mortgage - High Ratio Only – 3.24%

Special promotional rate may be changed or withdrawn at any time without notice. Applicable for a high ratio mortgage with a 25 year amortization period for members with less than 20% down payment, purchasing a residential property valued at under $1,000,000 or subsequent renewing of such a loan, who are eligible for and purchase mortgage default insurance and meet other conditions. This promotional rate is also available for members switching their existing high ratio mortgage, which has the lesser of 25 year amortization period or the remaining amortization of the mortgage to be switched to Alterna. The switched mortgage must also have had less than a 20% down payment at another financial institution and an active mortgage default insurance certificate; be a residential property with an original purchase price under $1,000,000; and meet other conditions. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate 3.24%. Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000. Blends and refinances are not eligible. Applies to owner-occupied primary residential properties only.

Posted Rates

Fixed Rate Mortgages – Closed: Posted rate may be changed or withdrawn at any time without notice. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate displayed. Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000 may be granted, subject to conditions.

Fixed Rate Mortgages – Open: Posted rate may be changed or withdrawn at any time without notice. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate displayed. Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000 may be granted, subject to conditions. Open mortgages are open to prepayment, without penalty.

Variable Rate Mortgages – Closed: Posted rate may be changed or withdrawn at any time without notice. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate displayed. Rates are posted at a premium to Alterna’s Prime Rate, which is 2.70% as of March 4, 2022. Rates calculated monthly not in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000 may be granted, subject to conditions.

Variable Rate Mortgage – Open: Posted rate may be changed or withdrawn at any time without notice. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate displayed. Rates are posted at a premium to Alterna’s Prime Rate, which is 2.70% as of March 4, 2022. Rates calculated monthly not in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000 may be granted, subject to conditions. Open mortgages are open to prepayment, without penalty.