REFERRAL PERKS®
For a limited time, earn $200* for you and your friend for every successful referral.
For a limited time, earn $200* for you and your friend for every successful referral.
Learn how an FHSA helps you save for a mortgage faster.
Learn which savings option is the best for your financial goals.
Explore this step-by-step complete guide to starting a business in British Columbia.
Contact our Member Advice Centre at 1-888-597-1083, apply online, or book an appointment.
With competitive rates and an extra $1,000 in your pocket, being a member has never been so rewarding.
*The fixed mortgage rate is only available to members with greater than 20% down payment, purchasing a residential, owner occupied property valued at under $1,000,000, and who meet other conditions. A premium may be applied to the rates for all other mortgages. Please visit a branch or call us at 1-888-597-1083 for further details.
**This insured mortgage rate is only available to members with less than 20% down payment, purchasing a residential property valued at under $1,000,000, who are eligible for and purchase mortgage default insurance and meet other conditions. Mortgage default loan insurance is required by lenders when homebuyers make a down payment of less than 20% of the purchase price. Mortgage loan insurance helps protect lenders against mortgage default, and enables consumers to purchase homes with a minimum down payment. The premium is calculated based on a percentage of the amount borrowed. Your premium can be paid upfront in a single lump sum payment, or it can be added to the total balance of your mortgage and included in your monthly payments – in this case, interest will apply to the premium as well. The minimum down payment requirement for mortgage default insurance depends on the purchase price of the home. For a purchase price of $500,000 or less, the minimum down payment is 5%. When the purchase price is above $500,000, the minimum down payment is 5% for the first $500,000 and 10% for the remaining portion. Mortgage default insurance is available only for properties with a purchase price or as-improved/renovated value below $1,000,000.
†Mortgage rates are subject to changes without notice and are available O.A.C. Fixed mortgage rates are compounded semi-annually; variable mortgage rates are compounded monthly. Mortgage rates are based on a 25 year amortization. Terms and conditions may apply. Mortgage funds must be advanced within 12 days of the application date. These rates are discounted and cannot be combined with any other rate discounts, promotions or offers. Additional fees may apply. For specific Annual Percentage Rate (APR) rates, please contact us.
Apply for a 3-year or greater fixed rate mortgage or a 5-year variable rate mortgage
Use your new or existing chequing account as the funding account to make your regular mortgage payments
You will receive the cashback funds within 5 days of your mortgage being funded
Mortgage amount must be $150,000 or more. See full terms and conditions of the offer below.
Owning your home, free and clear of a mortgage, is a great feeling. That's why we built our mortgages with you in mind. Get mortgage-free faster by taking advantage of:
120-day rate guarantee
Prepay up to 20% of the original mortgage balance once per year
Increase your mortgage payments by up to 20% of the original payment amount once a year
Share the cost. We're experts in multi-applicant mortgages
Need more help?
Why choose us?
Enjoy competitive rates knowing our profits are reinvested into strengthening your local businesses and community.
Learn more about the Financial Co-operative difference
Q: I already have a mortgage with a different lender. Can I get cash back?
A: Yes you can. If you switch your existing mortgage of $150,000 or more from another financial institution to Island Savings, you can qualify for cash back, pending you meet the eligibility requirements.
Q: What type of mortgages qualify for the cash back offer?
A: The offer is available on residential closed fixed rate mortgages with a minimum term of 3 years as well as the 5-year closed variable rate mortgage.
Q: When will I receive my cash back?
A: The $1,000 will be deposited into your chequing account at Island Savings within 5 days of your mortgage being funded.
Q: I already have a mortgage at Island Savings. Can I get this offer if I refinance my mortgage?
A: Refinances and renewals on existing mortgages are not eligible for this offer.
Q: What happens to my cashback if I close my mortgage before the end of my mortgage terms?
A: If you close your mortgage prior to the end of the term, you will be asked to repay the cashback amount in full
Q: How do I take advantage of this offer?
A: Apply for mortgage pre-approval online or call us at 1-888-597-1083 to get started.
For mortgage transfers, First West Credit Union will pay, when applicable, $1,000 towards the discharge of the existing mortgage held at another financial institution, the re-registration of the new First West mortgage as well as property valuation fees. The offer excludes mortgage prepayment charges (“breakage fees”) that may have to be paid.
To be eligible for this offer, each borrower and each mortgage loan must meet the following eligibility requirements on the effective date:
We acknowledge that we have the privilege of doing business on the traditional and unceded territory of First Nations communities.
© First West Credit Union. All rights reserved.