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Mortgages & Home Financing

Buying a home is one of life’s biggest milestones. We make finding the right mortgage easy.

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Your home, your way

Explore home financing options for both on- and off-reserve properties.

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Flexible terms

Choose mortgage terms from 1 to 5 years to suit your needs.

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Competitive rates

Benefit from great rates and payment options designed for you.

Explore your home financing options and find the perfect fit

Whether on or off-reserve, we offer flexible terms, competitive rates, and payment options that work for you. Start your journey today! 

 

Closed Variable Rate

This mortgage is ideal for those who want flexible payments and the ability to pay down their mortgage anytime without extra costs.

Why Choose a Closed Variable Rate Mortgage?
  • Interest rate varies with prime but your payments remain the same.
  • If the prime rate decreases, more of your payment goes toward the principal. If the prime rate increases, more of your payment goes toward the interest.
  • You can pay off part or all of your mortgage at any time, with no extra fees.
  • Ability to switch to a fixed rate mortgage without penalty (as long as the fixed term is the lesser of 3 years or the current remaining term).
 

Closed Fixed Rate

This mortgage is a great choice for short-term budgeters who don’t want to worry about rate changes.

Why Choose a Closed Fixed Rate Mortgage?
  • Provides stability with a fixed rate and payments for the life of the term
  • Lower rates than an open mortgage
  • You can still pay more towards your mortgage (up to 15% of the principal) each year
  • Rapid paydown. Payments can be increased by up to 100% over the term without charges
 

Open Fixed Rate

This mortgage is a great choice for those not ready to commit to a longer term, and who don’t want to worry about rate changes. 

Why Choose a Open Fixed Rate Mortgage?
  • Provides stability with a fixed rate and payment for the life of the term
  • Available in a 1 year term
  • You can switch to another closed mortgage product with no penalty
  • Full or partial prepayments on any date without charge
 

Open Variable Rate

This mortgage is perfect for those seeking flexible payments and the ability to pay off their mortgage anytime without penalties, while adjusting to prime rate changes.

Why Choose a Open Variable Rate Mortgage?
  • Interest rate varies with prime but your payments remain the same
  • If prime goes down, more of your monthly payment is applied to the mortgage. If prime increases, more goes to the interest. 
  • Ability to switch to a fixed rate mortgage at any time
  • Payments can be increased to any amount over the term without charge*

*Full prepayment subject to an administration fee. First year = $500; Second year = $250; After two years = $0

 

Explore our mortgage rates to find the one that suits you best

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Unlock your dream home with ease

Use our Mortgage Calculator to estimate your monthly payments and explore your home financing options today.
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First Nations Market Housing Fund

First Nations Bank offers flexible options for homeownership, including the On Reserve Settlement Land Housing Loan Program and the First Nation Market Housing Fund Program (FNMHF). 

Benefits Available to Qualifying Community Members Through the FNMHF Program

   
Product

Benefit
Housing Loans:
Fixed Rate - uninsured (4-5 year term)
Fixed Rate - insured (4-5 year term)		  0.75% discount off our current posted mortgage rates2,4
1.00% discount off our current posted mortgage rates2,4
Personal Loans:
Home Renovations ($5,000-$25,000)

0.5% discount off our current posted mortgage rates2,4

Personal Loans - Other5

1.0% discount off our current personal loan rates2,4

Personal Chequing Account

3 months of standard service charges waived1

Investments

0.25% bonus on any First Nations Bank Term Deposit with a term of 30-365 days or .50% on a 1-5 year term First Nations Bank Term Deposit2,3

Safety Deposit Box

If approved for a Housing or Personal loan a small Safety Deposit Box fee will be waived for the first year6

Cheque Orders

 First cheque order to a maximum of 200 First Nations Bank of Canada basic cheques – Free

1. Standard service charges means the monthly account fee only and does not include additional fees or record keeping fees as indicated on our Account Selection Made Easy Brochure or our Business Account Services Brochure (not available on Select Service account).
2. Opening an account is the minimum requirement to use any one or all of the other benefits.
3. Cannot be used with any other offer. 
4. Subject to credit approval. 
5. Does not apply to RRSP loans. 
6. Subject to availability.
 

Contact us today to explore your home financing options and take the first step toward owning a home that’s right for you

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FNBC.Service@fnbc.ca

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1.888.454.3622

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