General Terms & Eligibility

All mortgage offers are subject to credit approval, income verification, satisfactory appraisal, underwriting review, and meeting YNCU lending criteria in effect at the time of application and funding.
Mortgage rates, offers, and promotions are available for a limited time only during the Promotional Period as provided for herein and are subject to change or withdrawal at any time by YNCU without notice.
Advertised mortgage rates may vary based on individual borrower qualifications, loan-to-value ratio, amortization period, downpayment, property type, occupancy type, mortgage insurance requirements, and other applicable lending criteria.
Some offers may only apply to owner-occupied residential properties located in Ontario.
Conditions, restrictions, and eligibility requirements as provided for herein apply.

Advertised Mortgage Rates

Variable Mortgage Rate Offer

The advertised variable mortgage rate of 3.80% is based on YNCU Prime rate in effect from time to time and may change without notice. The advertised variable mortgage rate is available on eligible five (5)-year closed variable-rate mortgages, subject to all applicable qualification criteria.

Fixed Mortgage Rate Offer

The advertised fixed mortgage rate of 4.49% is an annual interest rate available for approved applicants meeting applicable qualification criteria. The advertised fixed mortgage rate is available on eligible three (3)-year closed fixed-rate mortgages, subject to all applicable qualification criteria.

Additional Rate Disclosure

Annual Percentage Rate (APR) may differ from the above advertised interest rates based on applicable fees and charges.
Rates listed above are in effect as of the promotion start date and are subject to change or withdrawal without notice.
Rates may not be available for all mortgage products, amortizations, property types, or loan purposes.

Where applicable, advertised rates may apply only to:

• insured/high-ratio mortgages;
• owner-occupied residential properties;
• new mortgage applications only; and/or
• closed-term mortgages.

Borrowers must meet all qualification requirements at the time of approval and funding.

“Up to 90% Mortgage Approval” Statement

References to “up to 90% mortgage approval” are intended to describe financing availability for qualified borrowers and do not represent a guarantee of approval.

All mortgage applications remain subject to:

• credit qualification;
• income verification;
• debt servicing requirements;
• property appraisal;
• underwriting review; and
• YNCU lending policies and guidelines.

Maximum financing availability varies based on borrower qualifications, property type, occupancy, mortgage insurance eligibility, and regulatory requirements.
Approval outcomes may differ between applicants. YNCU may waive or amend any eligibility or qualifying requirement or other term for any one or more eligible mortgage applicants without regard to other applicants, at any time, without notice, in its sole discretion. Approved eligible mortgages are non-transferable.

$1,000 Mortgage Incentive

Eligible members may receive a $1,000 mortgage incentive when funding a qualifying new mortgage with a principal amount of $200,000 or greater.

Eligibility

To qualify:

• the mortgage must be newly funded during the promotional period;
• the mortgage principal amount must exceed $200,000;
• the borrower must meet all YNCU lending and approval requirements.

Unless otherwise approved by YNCU in its sole and absolute discretion, the following may be excluded from eligibility for the $1,000 mortgage incentive:

• renewals;
• refinances;
• internal transfers/switches;
• commercial mortgages; and
• construction financing.
  
  
  

Incentive Payment

The incentive may be paid as credit to a YNCU Account or another payment method determined by YNCU.
Payment timing may occur following mortgage funding and fulfillment of all promotional conditions.

Limitations

Limit of one incentive payment per mortgage/account/household and such incentive payment may not be combined with other YNCU promotional offers unless otherwise specified by YNCU in its sole and absolute discretion.
YNCU reserves the right to reverse, withhold, or recover the incentive if the mortgage does not fund, is cancelled, fraudulent or misleading information is provided, or promotional conditions are not satisfied.

10BPS Payroll Mortgage Discount

Eligible new members who establish payroll deposit with YNCU may qualify for a 0.10% mortgage rate discount (10 basis points) on an eligible mortgage product.

Eligibility Requirements

To qualify:

• the applicant must become a new YNCU member;
• payroll direct deposit must be established with YNCU;
• the eligible mortgage must fund within six (6) months of the date the eligible member becomes a member of YNCU;
• all standard lending qualification requirements must be met.
  
  

Discount Conditions

The payroll discount applies only to eligible mortgage products selected by YNCU, may not be combined with certain other promotional offers, may apply only at initial funding, and may not apply to renewals, refinances, or subsequent terms unless otherwise stated by YNCU.

YNCU reserves the right to verify ongoing payroll activity where applicable.
Failure to maintain qualifying payroll arrangements may impact eligibility for ongoing promotional benefits, where applicable.

Promotional Period

Offer availability begins on June 1st and ends on July 31, 2026 (the “Promotional Period”). The Promotional Period may be extended, amended, withdrawn, or terminated by YNCU at its sole discretion without prior notice. Only applications received during the Promotional Period will be considered. Mortgage funding and fulfillment of all promotional conditions remain subject to YNCU approval and applicable eligibility requirements.

Reservation of Rights

YNCU reserves the right to amend, suspend, or cancel any promotion at any time; substitute promotional offers of equivalent value; determine or modify all eligibility requirements and qualifying criteria; and make final decisions regarding offer interpretation and application.
All decisions made by YNCU relating to these promotions are final. In case of any discrepancy or inconsistency between the terms herein and the signed mortgage loan agreement, the signed mortgage loan agreement terms shall prevail.