4.2
on Google by our members
More people become homeowners with YNCU.
With competitive rates, up to 90% of mortgage applications approved³, and $1,000 in your pocket on mortgages over $200K⁴, we’re helping more Ontarians move toward homeownership with confidence.
New members who move their payroll to YNCU can also qualify for an additional 0.10% mortgage rate discount⁵.
A great rate for your first home is only a few clicks away
Start your mortgage journey with a credit union that cares about your goals as much as you do.
A local mortgage advisor will contact your shortly.
New member offers
For a limited time, get $1,000 on mortgages over $200,000⁴. Plus, when you move your payroll to YNCU as a new member, you can qualify for an additional 0.10% mortgage rate discount⁵.
Get pre-approved
How it works
01
Connect with us. Fill out the form or call 1-844-444-0411.
02
Become a member. Open your account online in minutes.
03
Get pre-qualified. Choose the mortgage terms that fit your life.
04
Get your keys. Settle in and make the place yours.
Helping serve our members since 1950
While it sounds cliché, here at YNCU, our members come first. As a credit union, we don’t have the stock pressures of big banks, so we can prioritize your financial well-being over profit.
Why choose YNCU?
Given the economic uncertainty we’re facing in this country, our job is to make you feel confident about your future. We’ll help you earn, save, and protect your money. We also help the local communities where we do business, because we know the financial health and security of our customers and members require investments at both individual and collective levels.
Here are the top questions our members ask before getting started.
How much mortgage can I afford?
To determine how much mortgage you can afford in Ontario, you'll need to factor in your income, expenses, as well as your debt-to-income ratio. A general guideline is to calculate the percentage of your gross income that is allocated to housing-related expenses.
What’s the difference between a fixed and a variable rate mortgage?
A fixed-rate mortgage locks in your interest rate for a predetermined amount of time, offering predictable monthly payments. A variable rate mortgage is linked to YNCU’s Prime Rate +/- a specified amount, such as our current special of Prime – 0.65%. The prime rate may fluctuate based on market conditions, which could mean lower interest costs if rates go down. Both options are available through YNCU and can be tailored to your financial plan. Speak with a Mortgage Specialist to find the mortgage that works best for you.
How much do I need for a down payment?
The minimum down payment depends on the purchase price of the home and the type of mortgage. Many first-time homebuyers may qualify for a high-ratio mortgage, which allows you to purchase a home with less than a 20% down payment. High-ratio mortgages require mortgage default insurance, which helps make homeownership more accessible with a lower upfront down payment. A YNCU mortgage advisor can help you understand what may work for your budget and goals.
What does getting pre-qualified mean?
Getting pre-qualified gives you an estimate of how much you may be able to borrow based on your income, debt, and down payment. It’s often the first step toward understanding what kind of home may fit your budget.
What is an FHSA?
A First Home Savings Account (FHSA) is a registered savings account designed to help first-time buyers save for a home tax-free. Eligible contributions are tax-deductible, and qualifying withdrawals for a first home are tax-free. Please refer to Government of Canada FHSA guidelines for full details.
What does the additional 0.10% mortgage discount apply to?
New members who move their payroll to YNCU may qualify for an additional 0.10% mortgage rate discount for their term.
What costs should I plan for beyond a down payment?
In addition to your down payment, buyers should also plan for closing costs like legal fees, land transfer tax, inspections, and moving expenses. Our team can help you understand what to expect.
