First Nations Bank of Canada
Indigenous-controlled Schedule I chartered bank financing homes both on and off reserve, with fixed and variable terms from 1 to 5 years. Qualified First Nation Market Housing Fund members get rate discounts of 0.75 to 1 percent on housing loans. It lends Saskatchewan, Alberta, Manitoba, Ontario, Quebec, Yukon, Northwest Territories, Nunavut.
Prepayment-penalty method
Standard penalty (about three months' interest)
Breaking early is penalized at roughly three months' interest, an open-style penalty that is generally on the lower, more predictable end.
See what breaking a mortgage early could costWho it tends to fit
- Self-employed and business-owner borrowers
General signals only. Approval depends on the full application; a lender that fits on paper still has to say yes.
What you can do with it
- Buying a home
- Renewal or switch
Features
- Prepayment privileges (pay extra without a penalty)
Rate types
- Fixed rates
- Variable rates
Where it lends
Saskatchewan, Alberta, Manitoba, Ontario, Quebec, Yukon, Northwest Territories, Nunavut
Good to know
- Default-insured lending is confirmed for on-reserve program loans (CMHC insurance or ministerial loan guarantee); confirm high-ratio availability for off-reserve purchases.
- Closed fixed mortgages allow annual prepayment up to 15% of principal; open variable carries admin fees ($500 first year, $250 second).
- Branch network is concentrated in western and northern Canada plus Quebec and Ontario locations.
How to reach First Nations Bank of Canada
You deal with this lender directly, no broker required. This is educational information, not a rate quote; confirm current rates and terms directly.
Visit First Nations Bank of CanadaEducational summary; rates, terms, and approval are set by the lender.
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Educational information about Canadian mortgages, not financial or mortgage advice. This tool is offered by Jordan Avery, Mortgage Agent (Level 2), Licence M23999999 · Maple Key Mortgages Inc., FSRA Brokerage Licence 13999 and operated by LenderSearch; figures are estimates. Confirm all rates, terms, and eligibility directly with the lender before acting.