Motusbank Mortgage Rates & Reviews
Motus Bank Background
Motus Bank is a subsidiary of Meridian Credit Union and was officially launched on 2nd April 2019. It operates as a federally chartered online bank subsidiary. They have a variety of services in financial and investment management along with mortgages and lending. The bank has 54 million Canadian dollars in capital.
Motusbank Prime Rate
Motusbank's Prime Rate is used as the basis for many of Motusbank's lending products including variable rate mortgages, lines of credit, and HELOCs. Prime, or P, is normally combined with a spread to make up the final interest rate.
Current Motusbank Prime Rate: 2.45%
Motusbank Fixed-Rate Mortgages
| Term | Rate | Monthly Payment |
|---|---|---|
1-Year Fixed | 2.09% | $1,713 |
2-Year Fixed | 2.09% | $1,713 |
3-Year Fixed | 2.09% | $1,713 |
4-Year Fixed | 2.09% | $1,713 |
5-Year Fixed | 2.09% | $1,713 |
The rates shown are for insured mortgages with a down payment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time.
Motusbank Variable-Rate Mortgages
| Term | Rate | Monthly Payment |
|---|---|---|
5-Year Variable | 1.55% | $1,609 |
The rates shown are for insured mortgages with a down payment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time.