Mixer Mortgage™
Share the pizza, split the bill.
The Mixer Mortgage™ is a type of joint mortgage that allows you to share the costs of home ownership with others while choosing the mortgage rate, term and amortization that works best for each individual person.
You want to pool your resources with other people and buy a house or property together. The Mixer Mortgage works well for multi-generational families who want to live together, friends who dream of building your own neighbourhood, or roommates who decide to buy instead of splitting rent.
Key features.
Buy a bigger pie.
Partnering with others increases your purchasing power, so it’s easier to afford the home you want. However, it also means if one person can’t pay their share, everyone else remains equally responsible for the entire amount of the mortgage.
Order it your way.
Though your mortgage is shared, it’s yours to customize. Each person on the mortgage can have their preferred interest rate1 and type, term and amortization.
More to love about this mortgage.
Transfer your mortgage to a new property or buyer
The Mixer Mortgage is portable and assumable, which means you can transfer it to a new property with the same terms, or to a third-party homebuyer who will take over the remaining payments.2
Option to add multiple-owner life insurance
Enjoy peace of mind when you add life insurance designed for multiple-owner arrangements.
Professional guidance and legal support
We’ll help you set up your mortgage, provide a referral for legal support to complete your co-ownership agreement, and secure investment protection advice from a Vancity Wealth Protection Investment Specialist.
Choose your rates, term and amortization
With a Mixer Mortgage, you can choose from a variety of mortgage options to find the rates and terms for your lifestyle and budget. Explore all Vancity mortgage rates.
Buy your first home with less.
With a high-ratio insured mortgage loan, you could put as little as 5% down on the first $500,000 and 10% on the rest for a home that costs under $1.5 million. You’ll also get a reasonable interest rate, even with your smaller down payment.
Eligibility.
You are at least 19 years old.
You live in British Columbia and have a BC address.
The home you’re looking to purchase or build is in British Columbia.
You pass the stress test.
The stress test is a formula set by the Federal Government to ensure you’ll be able to afford your mortgage. To pass the stress test, you'll need to qualify at the greater of the contractual mortgage rate plus 2%, or the OSFI Minimum Qualifying Rate (5.25%, as of December 15, 2022).
Take the next step.
Find a specialist near you
Interested in a new mortgage or refinancing? Browse our mortgage specialists to connect with someone in your area.
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Talk through your questions
For general mortgage inquiries or help with renewing your mortgage, book a time that works for you and we’ll give you a call back.
Book a phone appointmentTools to help you get on track.
Featured member: Yeah Life Joint Venture
After fifteen years of friendship, this group of 10 friends realized that housing prices in Vancouver would drive them out of the city — and apart from eachother. After many late-night conversations, they decided to buy 4 acres of property on the Sunshine Coast together. With sustainability and community in mind, they’re transforming this property into forever homes for their families. The group credits Vancity for making their unique property purchase a possibility.
View legal details
1 Some conditions apply. Preferred interest depends on mortgage loan-to-value, mortgage amortization and whether the home is owner occupied.
2 Assumption of the terms and balance of the mortgage is subject to third-party meeting Vancity lending criteria.