Mortgage Solutions

Whether you’re buying a home, renewing your mortgage, or planning a renovation, Kingston Community Credit Union will help tailor your mortgage to suit your needs.

Our mortgage solutions offer:

  • Affordable payments geared to your budget
  • Flexible and tailored payment options
  • Competitive interest rates
  • 30-day rate guarantee
  • Options for accelerated debt reduction
  • Protection with optional life, disability, and critical illness insurance

Mortgage Rates - Fixed and Variable? Which is right for you?

Fixed Rate Mortgages

A Fixed Rate Mortgage may be the right product for you if you want a mortgage rate that is guaranteed for a term (in years). This is ideal when you are concerned about the impact of rising interest rates on your budget or you are on a fixed income and want to make sure your mortgage costs stay constant for the term you choose. Most fixed rate mortgages are fully closed and allow you the flexibility to pay additional payments once a year up to a specified percentage. Your privileges will be outlined specifically in the schedule attached to the terms and conditions of your individually-tailored mortgage (For example: permitting an extra 10% prepayment annually).

Fixed Mortgages are also ideally suited upon completion of a construction mortgage, for long term situations when you are certain you will be staying in your home. Choose your term (in years) and the rate associated with it. Usually the lower the rate, the shorter the term.

Variable Rate Mortgages

A Variable Rate Mortgage may be the right product for you if you want a mortgage rate that moves with the prime rate (KCCU base rate). This is ideal when you believe interest rates are falling or if you aren’t sure how long you are staying in your home. Most variable rate mortgages are fully open and allow you the flexibility to convert into a fixed rate mortgage. Your privileges are outlined specifically in the attached schedule re: prepayment (the terms and conditions of early repayment on your individually-tailored mortgage).

Variable Mortgages are also ideally suited to construction mortgages, short-term situations when you are considering or actively selling your home. 

Did you know that the shorter the amortization, the higher the payment and the lower the amount of interest paid over the life of the mortgage? Longer amortizations give you a lower payment and better cash flow but have higher interest costs over the life of the mortgage.

Ask us for more details to help you choose the option that best suits you.

Mortgage Terms – Open or Closed? Which is right for you?

Open Mortgages

An open mortgage provides you the flexibility to increase your payments by any amount, repay in full, refinance or renegotiate any time during the mortgage term without paying a prepayment penalty. The flexibility it offers comes with a cost as open mortgages are subject to higher interest rates.

Open mortgages are beneficial for those who are planning to sell their property in the short term or expecting to make a large lump sum payment soon.  

Closed Mortgages

A closed mortgage provides you less flexibility but a lower interest rate.  You are limited in the amount you can increase your payments and you can only repay according to the repayment terms negotiated at the time you take out your mortgage or upon renewal for the agreed upon term.

Payment prior to maturity usually involves an interest penalty. Refinancing may involve blended rates (where permitted) and should be discussed with your Lender to suit your individual preferences.

Closed terms may better suit those who intend to keep their property at least until the end of the term or those who wish to make consistent and lower interest mortgage payments.

To accelerate your payments and reduce your debt more quickly, KCCU provides an option that allows you to pay up to an extra 10% of the mortgage principal per year, in addition to scheduled payments, you can also increase your scheduled payments by 10% with no penalty.

Did you know that bi-weekly or weekly payments may help you repay your mortgage sooner?

Use our mortgage calculator to see how different payment frequencies impact the amount of money you can save and how quickly you pay off your balance.

Ask us for more details to help you choose the payment option that is best for you.

What Are Your Home Buying Goals?

Ready to take the first step into home ownership?  We know there is a lot to consider and are we are eager to help you on your exciting journey!

Thinking of upsizing to your dream home, downsizing to something more manageable, buying a rental property or perhaps a cottage?  Let our experts guide you through the process.

There is no better time to tackle those home renovation projects you’ve been dreaming of.  Use some of your home equity to maximize the enjoyment of your living space.  We can help.

Building your dream home?  We can help guide you and provide the financing you need to create your custom home.

Renewing your mortgage with us is easy. Let’s sit down and explore your best options for your financial future.

Time for a change?  Experience the credit union difference!  Let’s explore your best options and next steps to move your mortgage to KCCU.


Take advantage of the equity you have built in your home with a low-interest Home Equity Line of Credit. From renovations to that dream vacation or perhaps just combining other debts, a home equity line provides you with the funding and flexibility you want.

The KCCU All-in-One Mortgage offers you flexibility to meet all your borrowing needs throughout the life of your mortgage.  As you pay down your mortgage you can increase the limit on the Home Equity Line of Credit portion or even add more credit products up to the original approved limit. Be prepared for future home improvements or repairs as you need them with more credit made available based on the amount paid down on your mortgage.


Mortgage Calculator

Estimate your payments and payment schedule to help find the mortgage that is right for you.


Mortgage Protection

With mortgage protection, you can protect your family financially for less than you think.


Financial Learning

Explore our financial learning library for topics that are important to you.  Our animated video series follow our main character Jen on her journey to understanding everything there is to know about money. 

Creditor’s group insurance is optional and is underwritten by Co-operators Life Insurance Company. Supporting services, such as enrolment intake, medical underwriting and claims administration, are provided by the employees of CUMIS Services Incorporated, a subsidiary of Co-operators Life Insurance Company. Coverage is governed by the terms and conditions of the creditor group insurance policy issued to the creditor and is subject to terms, conditions, exclusions, and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details. To contact CUMIS, A Division of Cooperators Life Insurance Company, visit or call 1-800-263-9120.



A third party is an individual or entity, other than the account holder or those authorized to give instructions about the account, who directs what happens with the account. For example, if an account were opened in one individual’s name for deposits that are directed by someone else, the other person or entity would be a third party.

  • A secondary piece of identification from the primary list above
  • Canadian Birth Certificate
  • Credit Card bearing the name and signature of the individual which has issued by a well-known and reputable Canadian financial institution
  • A CNIB (Canadian Institute for the Blind) client card bearing the individual’s photo and signature
  • Provincial Outdoors Card
  • Canadian University or College Student Card with photo (for student identification only)
  • An employee identification card (with photo) issued by an employer that is well known in the community (i.e. KGH, DND, Queens University, Corrections Canada, etc.)
  • Foreign passport
  • Canadian Passport
  • Permanent resident card
  • Citizenship card (issued prior to 2012)
  • Secure Certificate of Indian Status issued by the Government of Canada
  • Driver’s licenses issued by province or territory
  • The DND (Department of National Defense) 404 driver’s license
  • Nexus Card issued by Canada Border Services Agency
  • Provincial Service Cards
  • Provincial or territorial identity cards (i.e. Ontario Photo Identification Card)
  • Foreign Passport (only if it is equivalent to a Canadian issued photo identification document)