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Hybrid mortgages

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Build the solution that suits you and make the most of an attractive average interest rate.

Hybrid mortgages allow you to diversify your financing in order to be able to:

  • Combine various kinds of mortgage loans
  • Repay your mortgage your own way
  • Get the benefits of both fixed and variable rates
  • Take into account the distinctive financial flexibility of your co-borrower

Why a hybrid mortgage?

Are you hesitating between a fixed or variable rate mortgage? You can diversify your financing with a combination of 2 or 3 mortgages as illustrated in the example below:

Non-hybrid mortgage

$200,000 loan made up of:

  • 100% of a 5-year fixed rate loan

Hybrid mortgage

$200,000 loan made up of:

  • 60% of a "5 in 1" loan ($120,000)
  • 40% of a 5-year fixed rate loan ($80,000)

We often forget that buying a house is often the most important investment you'll make in your lifetime, just as important, and sometimes even more so, as retirement savings.

Just like savings, it is important to diversify the products, in this instance to:

  • save on interest charges
  • accelerate the repayment of your loan
  • mitigate the effects of possible rate fluctuations

Hybrid mortgages allow you to:

  • customize your loan according to your borrowing profile
  • repay your loan your own way according to your financial situation and your capacity to repay
  • combine various types of loans and diversify the terms, amortization, frequency of payments, etc.
  • take into account the distinctive financial flexibility of your co-borrower (if your incomes are different, for instance)
  • get all the advantages of the different short and long-term products you have chosen (example: advantages of both a fixed rate loan and a variable rate loan)
  • have an attractive average interest rate
  • avoid having 100% of your mortgage coming to maturity at the same date, thus avoiding renewing your loan during a period of significant interest rate hikes

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What is the interest rate on a hybrid loan?

Each portion of your loan has its own interest rate (fixed, variable or reset yearly). We evaluate an average rate for the entire amount of financing, which corresponds to the weighted average of the interest rates.

The average rate may sometimes fluctuate, depending on the types of loans and their terms.

How do I choose the best hybrid mortgage?

  1. Establish your borrowing profile.

    For each profile, there is a corresponding customized mortgage combination, which may be accepted as is or adjusted according to your needs.

  2. Find out what type of mortgage is right for you.
  3. Meet a Desjardins advisor. They will be able to guide you to the best choices according to your borrowing profile.
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