Desjardins
Is Part of RateShop Mortgage's Trusted Canadian Lender Network
Desjardins: Trusted Partners for Canadian Mortgage Solutions
Desjardins: Trusted Partners for Canadian Mortgage Solutions
History as a Mortgage Lender in Canada
Founded in 1900, Desjardins Group began as a cooperative to support local communities in Quebec. Over the years, it has grown into a leading financial institution in Canada, managing over $400 billion in assets. Recognized for its innovative approach and member-first philosophy, Desjardins is a trusted name in mortgage lending, offering flexible terms and expert guidance to homebuyers across the nation.
Types of Mortgage Products & Programs
Desjardins provides a wide range of residential mortgage options, including:
Residential Mortgages:
Fixed-Rate Mortgages: Lock in rates for predictable monthly payments.
Variable-Rate Mortgages: Take advantage of market fluctuations for potentially lower interest rates.
High-Ratio Mortgages: For buyers with down payments under 20%, insured through CMHC or similar providers.
First-Time Buyer Incentives: Special programs for new homeowners, including lower rates and cash-back offers.
Desjardins Versatile Line of Credit: Combines a traditional mortgage with a line of credit for greater flexibility.
Residential Mortgages:
Fixed-Rate Mortgages: Lock in rates for predictable monthly payments.
Variable-Rate Mortgages: Take advantage of market fluctuations for potentially lower interest rates.
High-Ratio Mortgages: For buyers with down payments under 20%, insured through CMHC or similar providers.
First-Time Buyer Incentives: Special programs for new homeowners, including lower rates and cash-back offers.
Desjardins Versatile Line of Credit: Combines a traditional mortgage with a line of credit for greater flexibility.
Commercial Mortgages:
Desjardins supports businesses and investors with:
Income Property Financing: For multi-unit residential properties.
Commercial Real Estate Loans: For office, retail, and industrial properties.
Construction Loans: Financing for new builds or property renovations.
Commercial Mortgages:
Desjardins supports businesses and investors with:
Income Property Financing: For multi-unit residential properties.
Commercial Real Estate Loans: For office, retail, and industrial properties.
Construction Loans: Financing for new builds or property renovations.
Specialty Programs:
Eco-Friendly Mortgages: Incentives for energy-efficient homes or upgrades.
Self-Employed Mortgages: Designed for business owners with flexible income verification options.
Bridge Loans: Temporary financing solutions for buyers transitioning between properties.
Specialty Programs:
Eco-Friendly Mortgages: Incentives for energy-efficient homes or upgrades.
Self-Employed Mortgages: Designed for business owners with flexible income verification options.
Bridge Loans: Temporary financing solutions for buyers transitioning between properties.
Minimum Credit & Income Requirements
Desjardins’ mortgage criteria are designed to accommodate various borrower types:
First-Time Home Buyers: Minimum 5% down payment for insured mortgages; a credit score of 620+ is typically required.
Salaried Employees: Steady employment history with debt service ratios (GDS ≤ 39%, TDS ≤ 44%).
Self-Employed Borrowers: Alternative income documentation such as NOAs or bank statements.
Contract Employees: Proof of consistent income for at least two years.
Stated Income Borrowers: Requires a higher down payment (usually 20%) and a solid credit profile.
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Desjardins’ mortgage criteria are designed to accommodate various borrower types:
First-Time Home Buyers: Minimum 5% down payment for insured mortgages; a credit score of 620+ is typically required.
Salaried Employees: Steady employment history with debt service ratios (GDS ≤ 39%, TDS ≤ 44%).
Self-Employed Borrowers: Alternative income documentation such as NOAs or bank statements.
Contract Employees: Proof of consistent income for at least two years.
Stated Income Borrowers: Requires a higher down payment (usually 20%) and a solid credit profile.
Mortgage Underwriting Criteria for Approval
Desjardins evaluates applications based on:
Debt Ratios: GDS ≤ 39% and TDS ≤ 44%.
Credit History: A credit score of 620 or higher for most products, though exceptions may apply.
Income Verification: Salaried, self-employed, or alternative methods are accepted.
Down Payment: Minimum 5% for insured mortgages; 20% for conventional loans.
Property Appraisal: Ensures property value aligns with the mortgage amount.
Desjardins evaluates applications based on:
Debt Ratios: GDS ≤ 39% and TDS ≤ 44%.
Credit History: A credit score of 620 or higher for most products, though exceptions may apply.
Income Verification: Salaried, self-employed, or alternative methods are accepted.
Down Payment: Minimum 5% for insured mortgages; 20% for conventional loans.
Property Appraisal: Ensures property value aligns with the mortgage amount.
Locations Serviced and Branch Presence in Canada
Desjardins operates over 1,000 service points across Quebec and Ontario, with additional presence through affiliated financial services partners in other provinces. Digital banking and a strong network of mortgage brokers, including RateShop, extend its reach to clients nationwide.
Mortgage Application Checklist
To streamline the application process, gather the following:
Valid government-issued photo ID.
Proof of income (e.g., pay stubs, NOAs, or bank statements).
Credit history and report.
Proof of down payment funds.
Property details, including a purchase agreement.
To streamline the application process, gather the following:
Valid government-issued photo ID.
Proof of income (e.g., pay stubs, NOAs, or bank statements).
Credit history and report.
Proof of down payment funds.
Property details, including a purchase agreement.
How to Start a Mortgage Pre-Approval
Consult a RateShop Broker: Get expert guidance on Desjardins’ mortgage products.
Provide Financial Details: Submit income,
credit, and asset documentation.
Receive Pre-Approval: Desjardins assesses your profile and issues a pre-approval valid for 90–120 days.
Begin Property Search: Use your pre-approved amount to explore homes within your budget.
Consult a RateShop Broker: Get expert guidance on Desjardins’ mortgage products.
Provide Financial Details: Submit income,
credit, and asset documentation.
Receive Pre-Approval: Desjardins assesses your profile and issues a pre-approval valid for 90–120 days.
Begin Property Search: Use your pre-approved amount to explore homes within your budget.
How to Get Mortgage Rates
Compare Online Rates: Check live Desjardins mortgage rates on RateShop Mortgages’ platform.
Broker Negotiation: RateShop brokers can secure competitive rates tailored to your needs.
Promotional Offers: Look for exclusive rate discounts or cash-back programs.
Compare Online Rates: Check live Desjardins mortgage rates on RateShop Mortgages’ platform.
Broker Negotiation: RateShop brokers can secure competitive rates tailored to your needs.
Promotional Offers: Look for exclusive rate discounts or cash-back programs.
Mortgage Pre-Payment Options
Desjardins allows borrowers to pay down their mortgage faster with flexible pre-payment options:
Annual Lump-Sum Payments: Pay up to 15% of the original loan amount without penalties.
Increase Monthly Payments: Boost your regular payment amount by up to 15%.
Double-Up Payments: Make additional payments to reduce your principal faster.
Desjardins allows borrowers to pay down their mortgage faster with flexible pre-payment options:
Annual Lump-Sum Payments: Pay up to 15% of the original loan amount without penalties.
Increase Monthly Payments: Boost your regular payment amount by up to 15%.
Double-Up Payments: Make additional payments to reduce your principal faster.
By partnering with RateShop Mortgages, Desjardins provides:
Access to Competitive Rates: Secure some of the best mortgage rates in Canada.
Tailored Solutions: Customized options for diverse borrower needs.
Expert Guidance: RateShop brokers simplify the mortgage process, ensuring you get the right product.
Contact RateShop Mortgages today to discover how Desjardins can help you achieve your real estate dreams!
By partnering with RateShop Mortgages, Desjardins provides:
Access to Competitive Rates: Secure some of the best mortgage rates in Canada.
Tailored Solutions: Customized options for diverse borrower needs.
Expert Guidance: RateShop brokers simplify the mortgage process, ensuring you get the right product.
Contact RateShop Mortgages today to discover how Desjardins can help you achieve your real estate dreams!
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Contact Information
6 Indell Lane, Brampton ON L6T 3Y3, Canada
Local: 416-827-2626
Toll: 800-725-9946
RateShop Inc. is a Mortgage Brokerage offering lowest mortgage rates to Canadians. We are provincially licensed in the following provinces: Mortgage Brokerage Ontario FSRA #12733, British Columbia BCFSA #MB600776, Alberta RECA #00523056P, Saskatchewan FCAA #00511126, PEI #160622, New Brunswick FCNB #88426, Newfoundland/Labrador. Our Quebec Mortgage Transactions are serviced by Orbis Mortgage Group AMF# 181136.
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