4.66% (4.730% APR)12-Year Closed Fixed Mortgage as low as

Get a mortgage pre-approval to lock in these bonuses:

  • Earn up to $4,0002 cash back.
  • Earn $9003 in profit sharing dollars.
  • Save on interest with competitive rates.
  • Lock in your rate for 120 days.

Start your mortgage pre-approval! Get in touch with our expert mortgage specialists.

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Get your pre-approval today!

Lock in a 4.66% (4.730% APR) Rate1

Guarantee your 4.66% (4.730% APR)1 2-year closed fixed mortgage rate for 120 days after your pre-approval! 

Get Up to $4,000 Cash Back2

Buying your first home? Moving a mortgage to us? Purchasing your next home? Get up to $4,0002 cash back!

Earn $900 in Profit Sharing3

The more business you do with us, the more Member Rewards you earn. Earn $900 on a $400,000 mortgage!3

8,900+ Canadians enjoy a mortgage with us!

Kirk Mandin

“I cannot recommend Jamie highly enough. She was super fast, very thorough, and always available.”

“I cannot recommend Jamie highly enough. She was super fast, very thorough, and always available.”

Marya Brown

“Lots of communication and guidance. We couldn’t have done it without them.” 

“Lots of communication and guidance. We couldn’t have done it without them.” 

Mel Hersak

“We are pleased with their work ethic and dedication. Innovation has the friendliest employees.”

“We are pleased with their work ethic and dedication. Innovation has the friendliest employees.”

1 All rates, offers and profit share are subject to approval and can change without notice. 

2 See $4,000 Cash Back Mortgage Offer Terms & Conditions below for details.

3 Member Rewards amount is calculated using a $400,000 mortgage, with a 2-year fixed special rate. Member Rewards allocation rate of 2.45% and dividend rate of 5.92% is used to determine annual allocation amounts over the three-year term.

Special Rate Mortgage
Residential Mortgages with the following characteristics are not eligible for the special residential mortgage rates:

  1. The mortgage has a purchase price or as-improved property value greater than or equal to $1 million or
  2. The mortgage is a refinance of a current Innovation mortgage, or
  3. The mortgage is for an acreage or home quarter and qualifies for residential mortgage pricing, or
  4. The mortgage’s amortization is greater than 25 years.
  5. The mortgage is for a single unit rental property.

Annual Percentage Rate (APR)
The Annual Percentage Rate (APR) is based on a $300,000 mortgage, 25 year amortization, for the applicable term assuming monthly payments and fee to obtain a calculation of property of $400. If there are no fees, the APR and interest rate will be the same. APR is rounded to three decimal places. 

$4,000 Mortgage Cashback Terms & Conditions

This offer applies to first time home buyers, next time home buyers and/or anyone who transfers their mortgage loan to Innovation Federal Credit Union (“Innovation”) from another financial institution (the “Applicants”). Mortgage loans must have a principal amount of $100,000 or more, and must be one of the following Innovation Federal Credit Union (“Innovation”) Fixed-Rate Closed mortgages:

  • 2-year Closed Fixed (Special) mortgage interest rate with a term of 2 years and amortization of 25 years or less
  • 3-year Closed Fixed (Special) mortgage interest rate with a term of 3 years and amortization of 25 years or less
  • 4-year Closed Fixed (Special) mortgage interest rate with a term of 4 years and amortization of 25 years or less
  • 5-year Closed Fixed (Special) mortgage interest rate with a term of 5 years and amortization of 25 years or less

The offer applies to new consumer residential mortgage loans only. Mortgages for an acreage or home quarter which qualifies for residential mortgage pricing are not eligible for Mortgage Cash Back. The mortgage must have a purchase price or as-improved property value less than or equal to $1,500,000. Mortgage renewals, re-advances or refinances are not eligible for the Mortgage Cash Back offer. Applicants must have an Innovation No-Fee Bank Account and Member Rewards Account. Pre-authorized mortgage payments must come from an Innovation bank account. Mortgage application must be submitted to Innovation by June 30, 2025, and mortgage must be funded within 120 days of application.

Qualifying Applicants will receive cash back based on their mortgage loan amount. Cash back amounts are tiered as follows:

  • $1,000 cash back on a mortgage loan of $100,000 – $299,999
  • $2,000 cash back on a mortgage loan of $300,000, – $499,999
  • $2,500 cash back on a mortgage loan of $500,000 – $749,000
  • $3,000 cash back on a mortgage loan of $750,000 - $999,999
  • $4,000 cash back on a mortgage loan of $1,000,000 - $1,500,000

Cash back amount will be deposited into the Applicant’s Innovation Member Rewards Account within 30 business days after mortgage funding. In the case of joint mortgages, the cash back amount will be divided equally amongst all mortgage holders. Investment income earned on Member Rewards Account balances may be taxable. If the offer ends before the 30 business days after funding, Innovation will still pay the cash back amount to the Applicants, provided the above terms and conditions are met.

Offer is subject to meeting Innovation’s credit approval criteria. Offer may end or change at any time without notice. From time to time, and without notice, Innovation may change, supplement, or amend these terms and conditions. Offer expires June 30, 2025, but may end at any time without notice.

Offer is non-transferable and is not valid in conjunction with any other Offer unless otherwise stated. Limit of one Offer per Qualifying Account Holder, including for joint Account Holders. The recipient(s) of the Offer is solely responsible for any tax consequences associated with their receipt thereof.