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Hybrid mortgage

A loan + mortgage mix that can get you into your dream home sooner

The path to home ownership can be a long one. Even with a 20% down payment, as a new professional or recent graduate, you may not yet have the income needed to qualify for a traditional mortgage.

With the Meridian Hybrid Mortgage, you won’t have to put your dreams of home ownership on hold.

What makes the Hybrid Mortgage unique?


The Meridian Hybrid Mortgage is an innovative solution that combines a loan with a conventional mortgage. This product mix makes it easier to qualify for the mortgage you want.

Unique to Meridian, the Hybrid Mortgage considers your future borrowing potential. It offers an opportunity to purchase a home now – while you’re still getting established in your career – and transitions you into a traditional mortgage at a later date.

It makes what’s possible for your future self, possible today!

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The Hybrid Mortgage, explained

With our Hybrid Mortgage, you can borrow up to 80% of a home’s purchase price. The loan portion makes up a maximum of 60%, and the conventional mortgage portion makes up a minimum of 20%. To apply for this type of mortgage, you will need a down payment of at least 20%.

Let’s say the home you want to purchase costs $850,000, and you have a 20% down payment of $170,000. This means you need to borrow $680,000. The two parts of the hybrid mortgage are broken down like this:

Home price is $850K. The Meridian Hybrid Mortgage is 80% of total purchase. 60% hybrid loan with affordable interest-only payments on the larger balance = $510. 20% Meridian Mortgage with principal and interest payments on the smaller balance = $170K.


The Hybrid Mortgage is a short-term solution within a long-term plan. As your income increases over time, your mortgage advisor will work with you to move from the Hybrid to a standard mortgage.

Why the Hybrid Mortgage is a good idea


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Increased purchasing power

Lower monthly payments and debt service ratios mean you may qualify for a larger mortgage

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Affordable monthly payment

Gives you breathing room for other regular expenses and savings

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Flexible payment options

Make interest-only payments or principal and interest payments on the Hybrid Loan portion without penalty

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Peace of mind

Rest easy knowing you’re borrowing from an established and regulated financial institution

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We’re here for you

Our expert mortgage specialists will support you every step of the way on your mortgage journey

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Credit protection

Mortgage protection/creditor insurance is available to ensure your investment is protected, even when the unexpected should happen

Is the Hybrid Mortgage right for you?


The unique structure of the Hybrid Mortgage makes home ownership a possibility for more Canadians.

How do you know if the Hybrid Mortgage is right for you?

  • You expect your income to increase notably over the next 5 to 10 years

  • You want to get into your dream home now

  • You already have a down payment of 20%

The Hybrid Mortgage is a great option for new graduates, young professionals, tradespeople, and new Canadians.

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