Credit unions

Desjardins mortgage review — a broker's perspective

Canada's largest financial cooperative and Quebec's dominant retail lender. Provincially regulated in Quebec; competitive A-lender residential pricing with strong Quebec presence. Operates across Canada via Desjardins Ontario Credit Union.

Founded: Founded 1900
Headquarters: Lévis, QC
Products: 5 product types
Tier: Credit unions
Broker licence: FSRA #13737 broker

Start Pre-Approval See live rates 4.9 ★★★★★ Google Desjardins website

Reviewed by Mortgage Squad Advisors Editorial Team · Licensed Mortgage Advisors · Reviewed by the Principal Broker

FSRA Brokerage #13737 · 15+ years · Last reviewed May 13, 2026

Where Desjardins stands out

Who is Desjardins good for?

Desjardins suits borrowers stress-tested out at A-lenders (CU may qualify at contract rate) and self-employed with 2+ years NOAs. It is strongest on: Quebec market dominance, Cooperative ownership model, Bilingual French service, Standard A-lender.

Strong fit for

Borrowers stress-tested out at A-lenders (CU may qualify at contract rate)
Self-employed with 2+ years NOAs
Provincial residents (CU lends within their province)
Buyers wanting community-banking relationship

Probably not the right fit if

Files outside the credit union's home province (with exceptions)
Borrowers needing branch network outside one region
Investment files at high LTV (some CUs cap rentals)

Not sure where your file fits? Start a free pre-qualification and we’ll check your fit across 99+ lenders — no credit check to begin.

Overview

What kind of lender is Desjardins?

Desjardins sits within the credit unions tier of Canada's mortgage market. Provincially regulated; many qualify at contract rate (no stress test). Strong for borrowers at the edge of affordability.

Working across 99+ Canadian lenders, our brokerage knows Desjardins's underwriting appetite — what they say yes to, what they push back on, and what file structure gets a clean approval the first time. Because Desjardins is provincially regulated, they can qualify many files at contract rate without applying the federal OSFI B-20 stress test — a meaningful advantage for borrowers at the edge of affordability.

Live · updated Oct 24, 2026

How does Desjardins price its mortgages today?

These are Desjardins's lowest current rates across 284 broker-channel products in our live feed. Your exact rate depends on your file, term, down payment and insurance.

5-yr fixed

4.14%

5-yr variable

3.70%

3-yr fixed

4.14%

1-yr fixed

5.49%

Desjardins rates by term Get your exact rate

Product menu

What mortgages does Desjardins offer?

Desjardins funds 5 mortgage types. We can access its full broker-channel menu.

Purchase
Renewal
Refinance
HELOC
Investment

First-time buyer Renewal Refinance HELOC Investment property

Bank direct vs broker channel

Should you go to Desjardins directly or use a broker?

Desjardins sells mortgages directly and through brokers. Through us, you see Desjardins's broker-channel rate next to 99+ other lenders. We’re not employees of Desjardins. We’re an independent FSRA-licensed brokerage that sends your file to Desjardins when it’s the best fit — and to a different lender when it’s not.

Going direct to Desjardins vs. through us

Aspect	Direct with Desjardins	Through Mortgage Squad Advisors
Rate sheet	The rate you are quoted going to them yourself (highest)	Broker-channel rate (typically 15-30 bps below the consumer sheet)
Lenders shopped	Just Desjardins	99+ lenders incl. Desjardins
If declined	Application ends; reapply elsewhere	Re-route to next-best lender same day
Cost to borrower	$0 — bank pays its own staff	$0 — lender pays our compensation
Underwriting strategy	Desjardins's lens only	We structure your file to Desjardins's preferences before submission
Renewal benchmarking	Desjardins sends a single offer; you accept or counter	We benchmark across 99+ lenders 120 days before renewal

Same Desjardins loan documents. Different shopping power. Start a pre-qualification to see what your file looks like across 99+ lenders.

How we work with Desjardins

Discovery
A 5-minute call about your income, credit, down payment, home and timeline. No credit check to start.
Match
We compare your file with 99+ lenders, not just Desjardins. If Desjardins fits best, we go there.
Submit
We send a full package to Desjardins's broker desk, set up the way their underwriters like it.
Funding
Approval, conditions, lawyer, funding. We manage every step.

Alternatives

Other credit unions we shop alongside Desjardins

Same tier, often similar rates. We compare Desjardins with these every time.

Alterna Savings

Ontario contract-rate qualification

Conexus Credit Union

Regina market

Northern Credit Union

Northern Ontario market

Kawartha Credit Union

Peterborough + Kawartha market

East Coast Credit Union

Nova Scotia market

G&F Financial Group

BC Lower Mainland

By city

Desjardins mortgage broker — major Canadian cities

We place Desjardins files across Canada. Pick your city for local market context.

Toronto Vaughan Mississauga Brampton Markham Oakville Richmond Hill Burlington

Don’t see your city? Browse all Canadian markets — we lend nationally.

FAQ

Desjardins — common questions

Don’t see yours? Ask Maya.

What are Desjardins's current mortgage rates in Canada?

Desjardins's rates change daily and are channel-specific — branch rates differ from broker-channel rates. As a brokerage we access Desjardins's broker-channel sheet, typically 15-30 bps below their walk-in rate. Our live rate board (last reviewed May 13, 2026) shows current best-in-network across 99+ lenders. See our live rate board.

How do I qualify for a mortgage with Desjardins?

Standard Canadian qualifying: 5%+ down (under 20% requires CMHC/Sagen/Canada Guaranty default insurance), OSFI B-20 stress test at the higher of contract rate + 2% or 5.25%, GDS ≤ 39% and TDS ≤ 44%. Desjardins's underwriting has specific preferences we know from working with them — we'll tell you whether your file is a strong fit before submitting.

Is Desjardins a good mortgage lender?

Desjardins is genuinely strong on: Quebec market dominance, Cooperative ownership model, Bilingual French service. As your broker we evaluate Desjardins against 99+ other Canadian lenders for your specific file — sometimes they're the best fit, sometimes a different lender is. The honest answer depends on your file profile, not the lender's marketing.

Can I switch to Desjardins at renewal?

Yes, if your file qualifies. A transfer-in at renewal typically costs you $0 — Desjardins covers the discharge fee from your old lender and the appraisal as a transfer incentive. We benchmark Desjardins's offer against your existing lender's renewal rate and the broader market 6 months before renewal so the switch (or stay) is timed properly.

Does Desjardins work with self-employed borrowers?

Desjardins focuses on standard A-lender files. For self-employed borrowers we'd typically place at a specialty BFS lender (Home Trust, Equitable, RFA, Haventree) and refinance to Desjardins once 2 clean NOAs accumulate. See our self-employed mortgages.

How long does Desjardins take to approve a mortgage?

Desjardins's commitment turnaround on a clean broker-channel file is typically 24-72 hours from submission. Complex files (BFS, foreign income, atypical down payment) can take 5-10 business days. Conditional approval to funding is usually 14-30 days depending on appraisal, lawyer, and conditions.

What's the difference between Desjardins branch rates and broker rates?

Desjardins runs two rate sheets: the consumer rate you would be quoted going to them directly, and the broker-channel rate we access. The broker-channel sheet is typically 15-30 bps lower because broker volume arrives pre-qualified, lowering Desjardins's acquisition cost.

Does Desjardins offer pre-approvals?

Yes — Desjardins, like all major Canadian lenders, offers rate holds (typically 90-120 days) for pre-approved borrowers. We can submit your file to Desjardins for a real underwritten pre-approval, not just a soft rate-hold. This means if rates rise you're locked, and if they fall most lenders honour the lower rate. Start your pre-approval here.

What prepayment privileges does Desjardins offer?

Most major Canadian lenders including Desjardins offer 15-20% annual lump-sum prepayment plus 15-20% payment-increase privileges per anniversary year. The exact privilege depends on the specific product family (insured/insurable/conventional) and term selected. We disclose the privileges and IRD calculation method up front so you know your exit cost before you sign.

What if Desjardins declines my mortgage application?

As a broker we don't single-submit — if Desjardins declines, we have 98+ other lender options across A-tier, alt-A, MIC, and private. We'll diagnose the decline reason (credit, income, LTV, property type, beacon), fix what's fixable, and re-strategize. A bank decline ends your bank application; with us, it's one route taken off the map and we pivot.

Pillar guides relevant to Desjardins files

The First-Time Buyer Roadmap

Our most comprehensive first-time-buyer guide. Pre-approval to closing day, the FHSA + RRSP Home Buyers' Plan stack, 30-year insured amortization for first-time buyers, the stress test in plain English, and closing-day costs.

The Renewal Playbook

Your bank's first renewal offer is an opening bid. This playbook covers the 21-day federal notice rule, the lender early-renewal window (often up to 120 days), and how to compare your bank's offer against the market instead of auto-renewing.

The Refinance Decision Framework

Refinancing isn't always a win. This guide gives you the break-even method we use: penalty + fees vs. monthly savings, with three illustrative scenarios (rate drop, debt consolidation, equity take-out).

Building a Real Estate Portfolio in Canada

The mortgage-side guide for Canadian real estate investors. Rental income offset vs. add-back, CMHC MLI Select, BRRRR-friendly lenders, portfolio limits, DSCR-style products, and how to keep your file qualifying as you scale.

Related lenders

Same broker. Different lender appetite.

Home Trust Equitable Bank Haventree Bank MCAN Mortgage

Browse other lender tiers

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Editorial commitment

This page is an editorial profile written from our brokerage’s perspective. We are not employed by Desjardins and receive no payment from Desjardins for this content. We compensate-disclose: on A-lender files the lender pays our brokerage compensation, and we earn the same regardless of which A-lender funds your file — so our recommendations are rate-agnostic. Rates and program details are reviewed quarterly; last reviewed May 13, 2026.

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