DUCA
Ontario credit union with tiered programs from prime down to bruised-credit and business-for-self, accepting scores as low as 500 on its equity-lending tier. It lends Ontario.
Prepayment-penalty method
Posted-rate penalty (can be costly)
Breaking a fixed term early is penalized using the posted-rate method, which can cost thousands of dollars more than a fair contract-rate penalty. Worth weighing carefully if there is any chance you will move, refinance, or renew before the term ends.
See what breaking a mortgage early could costWho it tends to fit
- Self-employed and business-owner borrowers
- Borrowers with bruised or lower credit scores
- Refinances and equity take-outs
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
- Refinancing
Features
- Portable (move your mortgage to a new home)
Rate types
- Fixed rates
- Variable rates
Where it lends
Ontario
Good to know
- Fixed-rate IRD is measured against DUCA's current posted rate, increasing the penalty
- Lower-credit tiers carry a lender fee and reduced 65% LTV
How to reach DUCA
You deal with this lender directly, no broker required. This is educational information, not a rate quote; confirm current rates and terms directly.
Visit DUCAEducational summary; rates, terms, and approval are set by the lender.
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Other credit unions
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.