Types of loans and rates

Open or closed mortgage

The closed mortgage offers the security of a fixed rate for a longer term.

• Lets you choose a term from six months to 10 years.
• Interest rate is lower than that of an open mortgage.
• Accelerated payment options available.

The open mortgage is flexible. Keep this in mind if you are expecting to repay a significant portion of your mortgage soon.

• Pay it back any time, in full or in part, without penalties.
• Short term: six months or one year (in the case of a variable loan, this duration may be up to two years).
• Interest rate is generally higher than the rate of a closed mortgage for the same term.

Fixed or variable interest rate

Fixed rate: remains stable until the end of the term; may apply to both open and closed mortgages.

Variable rate: fluctuates with the Caisse centrale Desjardins prime rate.

Desjardins offers a range of mortgage loans that will meet your needs. See our mortgage loans

	By phone (Members)	Montreal area: 514-522-2373 Elsewhere in Canada and the U.S.: 1-800-CAISSES (1-800-224-7737)
	At the caisse (Members and non-members)	Contact an advisor at a caisse.