PenFinancial Credit Union
Niagara credit union offering fixed‑rate conventional and high‑ratio mortgages with as little as 5 % down; 1‑year (3.49%) and 5‑year (4.79%) fixed terms; 1 % fee if the 1‑year mortgage is paid out, transferred, or not renewed. No cash‑back option mentioned. 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
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
Features
- Home equity line of credit (HELOC)
- Cash-back option
Rate types
- Fixed rates
Where it lends
Ontario
Good to know
- Membership required to borrow; serves the Niagara and Haldimand regions.
- No variable-rate mortgage is advertised; fixed terms of 1 to 5 years only.
- Promotional 1-year term carries a 1.00 percent fee if discharged early.
- Cash back adds 0.10 percent to your mortgage rate.
How to reach PenFinancial 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 PenFinancial 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.