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Mortgages with stable rates and payments

	Type of mortgage
Features	With a closed Closed mortgage: A closed mortgage lets you choose a term from 6 months to 10 years, which offers the security of a fixed rate for a longer term. The interest rate is lower than that of an open mortgage. You can make advanced payments.  fixed rate Fixed rate: The fixed rate remains stable until the end of the term. You to know what the credit charges and due date of your loan are right away. It can apply to both open and closed mortgages.	With an open Open mortgage: An open mortgage is short-term and can be paid back at any time, in whole or in part, without penalties. Because the interest rate is generally higher than the rate of a closed mortgage for the same term, it's good if you're expecting to repay a significant portion of your mortgage soon.  fixed rate
Interest rate	Stable until the end of the term. See current rates	Stable until the end of the term. See current rates
Financing	80%1 (95% if purchasing and 85% if refinancing with mortgage insurance)	80%1 (95% if purchasing and 85% if refinancing with mortgage insurance)
Terms	6 months, 1 to 10 years	6 months, 1 year
Rate guaranteed at time of loan2?	Yes, for 90 days (in general)	Yes, for 90 days (in general)
Repayment possible without penalty?	Yes, up to 15% of original principal amount	Yes, at anytime, in whole or in part
Eligible for member dividends?	Yes, when the caisse pays out members dividends.	Yes, when the caisse pays out members dividends.
Distinctive features	Most popular loan. Interest rate lower than that of an open fixed-rate mortgage.	Useful if: your property is for sale; you’re waiting for an inflow of funds in the short term and will use these funds to make payments on your loan.

See the Desjardins mortgage comparison chart (PDF, 146 KB).

Simplify your negotiations and guarantee your interest rate

Before you even start looking for a property, determine how much you can borrow with a Preauthorized Mortgage.

	Online (Members)	Fill out the form
	At the caisse	Make an appointment with a caisse advisor: online by phone
	Through a mortgage representative	Make an appointment for a house call. Representatives can meet with you at your convenience, 7 days a week: Find a mortgage representative
	By phone	Montreal area: 514-CAISSES (514-224-7737) Elsewhere in Canada and the U.S.: 1-800-CAISSES (1-800-224-7737)

1. % of the smaller of the amounts of market value or property purchase. This percentage varies for second homes that are not accessible year-round.
2. Rate in effect on application date or upon signing mortgage with notary (with lawyer in Ontario).