Transfer your mortgage
Want to change lenders? With our help, get a mortgage that fits your situation and needs.
Cash back of $1,200
You could get $1,200 cash back by switching your mortgage over to us
What does it mean to transfer your mortgage?
You transfer your mortgage when you change lenders and continue to pay down your balance at another financial institution. It's an ideal time to get mortgage conditions that better fit your needs or to reassess your financing amount if you have a project in mind, like a home renovation.
Benefits of transferring your mortgage to us
We're here to answer your questions and guide you through the transfer.
Flexible financing options
Enjoy a financing solution suited to your needs with our mortgage loans and the Versatile Line of Credit.
Full range of products
Meet all your housing needs with our mortgages and home and loan insurance.
Practical online services
Easily manage your mortgage with AccèsD. Make a prepayment or renew your mortgage online (if eligible).
When should you transfer your mortgage?
You can transfer your mortgage at any time, but keep in mind that you may have to pay certain fees. It all depends on the terms of your loan agreement.
Our advisors can help you decide the best time to transfer your mortgage based on your situation and plans.
How does a mortgage transfer work?
The mortgage transfer process generally takes at least 6 months from beginning to end.
1. Prepare your transfer application
- Make a list of your income, expenses and other debt.
- Review your financial needs and your plans.
- Gather the documents we need to start the request.
- Proof of income (such as a pay stub or federal notice of assessment)
- Investment statements
- Copies of municipal and school taxes
- Piece of ID, if you're not a Desjardins member
- Statement containing mortgage balance, if available
- Current leases, profit and loss statements (tax schedules) and provincial and federal notices of assessment for the past 2 years, if you have income property
We may ask for more documents, such as a property appraisal or lending documents, depending on your situation.
2. Contact us to start your transfer application
- Tell us about your financial situation, your needs and your plans.
- Send us your documents and the information required to analyze your request.
- Give us time to review your file. This may take several weeks.
3. Finalize your transfer
- Once we've contacted you, confirm your choices and the conditions of your new mortgage.
- Visit your notary's office to make the switch official. This step incurs fees.
- Follow your notary's instructions on how to close your mortgage account with your old financial institution and tell your home insurance company you've changed lenders.
Special mortgage rates
5-year closed fixed-rate mortgage
This rate stays the same for 5 years.
5-year closed reduced variable rate mortgage
This rate varies with the prime rate
The fees involved with switching your mortgage to another lender depend on your situation. The most common ones are:
- Legal fees required to make the transfer official
- Administrative fees, if charged by your current lender
- Prepayment charges, if charged by your current lender if you transfer before the end of your term
- Appraisal fees charged by a certified appraiser to determine the value of your home, if required
Yes, you can transfer a mortgage insured by Sagen or the Canada Mortgage and Housing Corporation (CMHC). Your coverage and premium remain the same.
Yes. If you need more money for a project, such as for renovations, you can apply for refinancing when you transfer.
Transfer your mortgage to us
Monday to Friday: 8 AM to 9 PM
Saturday: 9 AM to 6 PM
Elsewhere in Canada:
1-844-626-2476 Canada-wide mortgage services. This link opens your phone app.
We can call you when it's convenient.
Check out our mortgage products
The loan must be for an owner-occupied residential property of 1 to 4 units.
This offer applies only to mortgage transfers from other financial institutions. This offer does not apply to changes made to an existing Desjardins mortgage, additional loan disbursements, renewals, new mortgages, to transfers of a Desjardins mortgage to a Versatile Line of Credit or mortgage transfers from one caisse to another. Other conditions, exclusions or limitations may apply. Contact an advisor to learn more.