First Time Buyers

As a first-time home buyer, you probably have many questions. At RCU we will help you find the answers. We've been helping our community achieve their financial goals for over 50 years. Our staff are highly skilled and knowledgeable about the competitive mortgage marketplace, the features and benefits of the home financing products we offer, and the unique needs of members. We'll be your partner each step of the way to owning your first home. Helping you understand your options, from the start at mortgage pre-approval, to the final stages of closing your mortgage.

Conditions for Land Transfer Tax Rebate

Home Buyer's Plan (HBP)

The HBP is a program that allows you to withdraw up to $25,000 per person (or $50,000 per couple) from your registered retirement savings plans (RRSPs) to help buy or build a qualifying home. Withdrawals that meet all conditions do not have to be included in income and there is no withholding tax.

Conditions for Participating in the HBP


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Fixed Rate Mortgages Rates
1 year 3.20%
2 years 3.30%
3 years 3.40%
4 years 3.50%
5 years 3.60%
Variable Rate Mortgages Rates
Open (1, 2, 3 years) 3.20%
Closed 2.70%
Home Equity Line of Credit Rates
Home Equity Line of Credit 3.60%