Our guide to DUCA mortgages
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When it comes to mortgages, there are a lot of things to think about. What’s the interest rate? What’s the term? Do you want a fixed or a variable interest rate?
There are lots of important questions to ask when you’re shopping around for a mortgage. But at the top of that list is without a doubt, "which mortgage lender should you work with?"
Each lender has its own set of pros and cons, so it’s important to understand the differences before you decide which one is right for you. In this review, we take a close look at DUCA mortgages and their current rates.
About DUCA
Founded in 1954, DUCA offers a range of financial products. These products offer benefits to members, such as: maximum interest and maximum convenience on loans, asset protection on homes and business, short and long term mortgage options and tax shelter for income. DUCA embodies more than financial values, with their DUgood community helping local, national and international initiatives.
Our review of DUCA
The DUCA website is easy to navigate, offering all the information you need to take out a mortgage with them. They have competitive rates, mortgage calculators and specialists at your disposal online. Their many advisors means that you can get clear guidance on every aspect of DUCA mortgages.
DUCA mortgage pros and cons
Here are some of the advantages and disadvantages of DUCA mortgages:
Why DUCA might be right for you:
Flexible repayment options
Mobile banking app
Good customer service
Useful resources and calculators
Why DUCA might not be right for you:
Branches are only located in southern Ontario
To find the best mortgage rates, it is important to weigh quotes from different lenders. Subtle differences in the interest rates, term lengths and fine print can mean tens of thousands of dollars over the course of the mortgage. Use our free, online mortgage rates comparison tool today to help you find the perfect provider!
Compare mortgage rates now
What types of mortgages does DUCA offer?
Below is a table showing some details about the different mortgage plans DUCA offers. Most providers will offer a variety of mortgage options.
| Coverage type | Low rate mortgage | Flex mortgage | Second mortgage | Co-op mortgage |
|---|---|---|---|---|
| Rate type | Fixed and variable | Fixed, variable, PrimeLine line of credit |
| Available in fixed rate or variable rate options |
| Details | Up to 20% annual lump sum prepayment options | Choose up to 4 products to mix and match | Excellent for consolidating debt into one monthly payment | Portable (take it with you if you move) upon DUCA approval |
| Prime rate | 2.95% | 2.95% | 2.95% | 2.95% |
What mortgage rates does DUCA offer?
There are two main types of mortgage rates in Canada: fixed and variable rates.
Fixed-rate mortgages are a great option for people who want to know exactly what their interest rate will be throughout the entire course of their loan term. With a variable rate, your payments change based on market conditions. This could mean rates that go up over the course of the term.
Below are some of the mortgage rates DUCA offers:
Rate Type | Term Length | Rate |
|---|---|---|
High-ratio convertible | 6 months | 4.25% |
High-ratio closed-fixed | 1 year | 3.29% |
High-ratio closed-fixed | 2 years | 3.24% |
High-ratio closed-fixed | 3 years | 3.09% |
High-ratio closed-fixed | 4 years | 3.14% |
High-ratio closed-fixed | 5 years | 2.79% |
High-ratio variable | 3 years | 3.45% |
High-ratio variable | 5 years | 2.95% |
Flex closed-fixed | 1 year | 3.74% |
Flex closed-fixed | 2 years | 3.54% |
Flex closed-fixed | 3 years | 3.54% |
Flex closed-fixed | 4 years | 3.64% |
Flex closed-fixed | 5 years | 4.59% |
Flex closed-fixed | 6 years | 4.79% |
Flex convertible | 6 months | 4.35% |
Flex variable | 3 years | 3.55% |
Flex variable | 5 years | 3.25% |
Flex open | 1 year | 5.85% |
2nd mortgage fixed-closed | 1 year | 3.99% |
2nd mortgage fixed-closed | 2 years | 3.79% |
2nd mortgage fixed-closed | 3 years | 3.79% |
2nd mortgage fixed-closed | 4 years | 3.89% |
2nd mortgage fixed-closed | 5 years | 3.44% |
2nd mortgage fixed-closed | 6 years | 4.84% |
2nd mortgage fixed-closed | 7 years | 5.04% |
2nd mortgage convertible | 6 month | 4.60% |
2nd mortgage variable | 3 year | 3.80% |
2nd mortgage variable | 5 year | 3.50% |
2nd mortgage open | 1 year | 6.10% |
Want to compare mortgage rates in Canada from other lenders? You can for free, and anonymously right on this website.
Compare mortgage rates now
How do I contact DUCA?
Speak to a DUCA Member Connect Representative:
Phone: 1-866-900-3822
Monday - Friday: 9:30am - 7:00pm and Saturday: 9:30am - 1:30pm
Our DUCA mortgage calculator
Want to calculate what your DUCA mortgage will look like? We have some tools right here on our website that can help:
Our mortgage payment calculator lets you see monthly payments and gives a yearly amortization schedule.
Our mortgage affordability calculator will help you determine how large a mortgage you can get.
Our mortgage default insurance calculator will tell you how much you'll owe for mortgage default insurance
