Desjardins Mortgage Review 2025
Desjardins mortgages: Our quick take
Desjardins doesn't have a lot of mortgage products, but it's a solid alternative for borrowers looking for a non-bank lender.
Who is a Desjardins mortgage best for?
Desjardins may be a fit if you’re a borrower in Quebec or Ontario, have good credit, and are looking for extra variable rate options.
Most of Desjardins’ offerings are fairly meat-and-potatoes, but its short-term, variable-rate mortgages are unique and potentially beneficial.
Who's eligible for a Desjardins mortgage?
As a federally-regulated financial institution, Desjardins’ lending criteria is similar to what you’d encounter at a Big Six bank.
To qualify for a prime mortgage with Desjardins, as with any lender or brokerage, you’ll need to meet certain eligibility requirements.
These include:
Minimum credit score: Typically 680.
Down payment amount: At least 5% for a home under $500,000. For homes between $500,000 and $1,499,999, you need 5% of the first $500,000 and 10% of the amount above $500,000. For a home that costs $1.5 million or more, you’ll need 20% of the purchase price.
Debt service ratios: Your gross debt service ratio should not exceed 39%; your total debt service ratio should not exceed 44%.
What types of mortgages does Desjardins offer?
Desjardins advertises a relatively limited number of mortgage types, so getting a full sense of what’s on offer will require a conversation with either the bank or a mortgage broker.
Desjardins offers the following mortgage types publicly:
Fixed-rate mortgages.
Variable-rate mortgages.
Mortgage renewals.
Mortgage transfers.
A home equity line of credit.
Mortgage refinances.
How do Desjardins' mortgage rates compare?
You can see how Desjardins' mortgage offers stack up against bank and non-bank lenders on the following pages.
Review of Desjardins mortgage features
NerdWallet Canada's editorial team sifted through dozens of lender websites looking for features borrowers are interested in. Then, we summarized how each lender compares to its competitors using the labels "limited," "standard" or "excellent."
To see the details that led to each summary, expand the box below each entry.
Special offers available
LIMITED
Desjardins shares fewer special rates online than most of its Big Six competitors.
Why this might matter for you: Special rates can be a window into the types of rates you'll actually get from a lender. It's frustrating when one lender clearly displays them online and another doesn't.
Why this might not matter: If you work with a mortgage broker, they're the ones who will gather rate information. Also, because every mortgage offer is unique to the applicant, a special rate you see may not reflect the rate a lender will offer you.
Expand for details
Desjardins advertises special rates for:
4-year fixed
5-year fixed
5-year variable
Term length options
EXCELLENT
Desjardins advertises many term lengths online. Included among the more standard terms, which range from six months to 10 years, are a couple of unique short-term variable-rate options.
Why this might matter for you: Some borrowers need financing for an unusual amount of time (six months, six years or 25 years, for example).
Why this might not matter: If you intend to get a standard three- or five-year term, having access to less common terms doesn't matter as much.
Expand for details
Desjardins offers the following mortgage terms:
6-month fixed (closed)
6-month fixed (open)
1-year fixed (closed)
1-year fixed (open)
1-year variable
2-year fixed
2-year variable
3-year fixed
4-year fixed
5-year fixed
5-year variable
6-year fixed
7-year fixed
10-year fixed
Prepayment limit
STANDARD
Desjardins offers fairly decent prepayment privileges. You can pay up to 15% of your original mortgage amount each year without penalty. That’s better than some of Canada’s biggest banks, which offer 10% prepayments, but not quite as generous as those who allow you to prepay up to 25%.
You can also increase your mortgage payment as a form of prepaying. Desjardins allows you to increase your monthly payment by up to 100% without triggering any prepayment charges.
Why this might matter for you: Paying off a mortgage early is a goal many homeowners have. The bigger your lender's lump-sum prepayment limit, the more flexibility you'll have.
Why this might not matter: If you don't expect to have funds available for prepayments, this limit is irrelevant.
What it’s like to apply at Desjardins
To apply for a mortgage with Desjardins as a new customer, you’ll have to contact the bank directly or use a mortgage broker. There is no online application option.
If you’re already a Desjardins member, you can get pre-approved for a mortgage online through the AccèsD app. Otherwise, you’ll need to schedule an appointment with a Desjardins mortgage advisor.
About NerdWallet mortgage reviews
When the NerdWallet Canada editorial team reviews a mortgage lender, we look for the options it offers customers, transparency in advertising, ease of application and flexibility it offers mortgage-holders.
Of course, a mortgage is a highly personalized product. The offer you receive depends on the details of your financial situation. A lender may have a less-than-transparent website but offer you a great rate.
Use this review to familiarize yourself with this mortgage lender. To get the best mortgage rate, work with a mortgage broker or negotiate directly with multiple lenders.
DIVE EVEN DEEPER
Kurt Woock
Kurt Woock
Clay Jarvis