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Are you buying a home for the first time, moving into a new home, or renewing your mortgage? At Integris, we’ve got a variety of unique mortgage options to suit all your financial needs. Speak with a lender for more information about mortgages.

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Home » Borrow » Personal » Mortgages

Retail Mortgages

Conventional Mortgage

A conventional mortgage is where the loan amount is 75% or less of the value of the home.

Term (open): 6 months and 1 year.

Term (closed): 1-5, 7 and 10 year terms available.

Interest Rate: Fixed (open and closed) or variable.

Additional Payments (Prepayment): Make additional payments, increase the payment by 20% once a year, or a lump sum annually without penalty of up to 20% of the original mortgage amount.

Payment Frequency Options: Monthly, semi-monthly, bi-weekly or weekly blended payments of principal and interest.

See Rates

Insured Mortgage

An Insured Mortgage is where the loan amount exceeds 80% of the purchase price.

Term (open): 6 months and 1 year.

Term (closed): 1-5, 7 and 10 year terms available.

Interest Rate: Fixed (open and closed) or variable.

Additional Payments (Prepayment): Make additional payments, increase the payment by 20% once a year, or a lump sum annually without penalty of up to 20% of the original mortgage amount.

Payment Frequency Options: Monthly, semi-monthly, bi-weekly or weekly blended payments of principal and interest.

For mortgages exceeding 80%, the mortgage is required to be insured through CMHC1 or Sagen2.

See Rates

1CMHC is a federal government supported program initiated in 1946.
2Sagen is a publicly traded company created in 1995.

Construction Mortgage

Borrowers may wish to build their own home rather than purchase an existing home. Funds are advanced in draws as the work is completed and verified by an Appraiser. The Appraiser signs off on the amount of work complete, the quality of the workmanship and the estimated cost to complete the construction.

The borrower must qualify under all the mortgage requirements as if it was a purchase.

Speak with your Lender about a Construction (Builder’s) mortgage.

Construction Mortgages can be insured through CMHC and Sagen as well.

The Mortgage Stress Test was introduced by the Federal Government to protect borrowers. Due to a period of historically low interest rates that will not remain low forever, the mortgage stress test ensures that should rates rise, borrowers will still be able to afford their mortgage payments. Stress testing includes thresholds for total debt servicing (TDS) as well as gross debt servicing (GDS).

The Home Buyers’ Plan is a program established by the federal government that allows an individual, who is a qualified first-time home buyer, to borrow up to $35,000 tax-free from their RRSPs ($70,000 per couple) to buy or build a qualified home, located in Canada and is the buyer’s principal residence which must be repaid within a 15-year period.

IMPORTANT

The First-Time Home Buyer Incentive has been discontinued. The deadline for new or updated submissions for the First-Time Home Buyer Incentive is midnight ET on March 21, 2024.

For more information please visit the following link.

The Federal Government implemented a First Time Homebuyers Incentive to assist first time homebuyers. This program is non-interest bearing and can be repaid in full without prepayment penalty.

The incentive is like a second mortgage on the home. CMHC administers the program and is only available for mortgages insured via CMHC or Sagen. Through the First-Time Home Buyer Incentive, the Government of Canada will offer to cover:  

  • 5% equity for a first-time buyer’s purchase of a re-sale home 
  • 5% or 10% equity for a first-time buyer’s purchase of a new construction 

Homebuyers must repay CMHC, either when they sell their home or if they wish, sooner. The fair market value or sale price at the time of repayment determines the repayment amount. For detailed information on this program visit www.placetocallhome.ca or speak with your lender

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