Mainstreet Credit Union
Southwestern Ontario credit union headquartered in Sarnia offering fixed and variable mortgages, including high-ratio loans from 5 percent down. A current offer pays up to $4,500 on qualifying new, transferred or refinanced mortgages. It lends Ontario.
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
- Refinances and equity take-outs
- Construction and new-build financing
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
- Refinancing
- Renewal or switch
- Construction / new build
Features
- Prepayment privileges (pay extra without a penalty)
- Home equity line of credit (HELOC)
- Cash-back option
Rate types
- Fixed rates
- Variable rates
Where it lends
Ontario
Good to know
- Membership required to borrow; branches are in southwestern Ontario.
- Cash offer is tiered by mortgage size and requires a closed fixed or variable mortgage of $100,000 or more with a term of 3 years or longer and amortization of 30 years or less; the bonus can be clawed back if the mortgage is discharged before the end of the term.
- Lump-sum prepayments and payment increases are permitted, but exact annual limits are not published online.
How to reach Mainstreet Credit Union
You deal with this lender directly, no broker required. This is educational information, not a rate quote; confirm current rates and terms directly.
Visit Mainstreet Credit UnionEducational 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.