Our Best Mortgage Rate Guarantee

Luminus Financial Announces Best Mortgage Rate Guarantee and $20,000 Giveaway in Mortgage Referral Bonuses

TORONTO, ONTARIO – May 5, 2014 – Luminus Financial is pleased to announce its current mortgage promotion to members and non-members of the credit union. For a limited time, Luminus Financial is offering 5-year fixed mortgages at 2.95% along with its best rate guarantee to beat any mortgage rate from another financial institution by 0.05%.

As part of its promotion, Luminus Financial is giving away $20,000 in referral bonuses to members and non-members who refer a friend or family member to sign up for a new mortgage with the credit union. For each mortgage referral, a member or non-member can earn $500* to share with the referred applicant.

“Our current promotion was designed to maximize the benefits our members and/or the mortgage applicants receive in the process of closing their homes,” commented George De La Rosa, CEO of Luminus Financial. “The best rate guarantee and the referral bonus are great complements to our permanent promotion of giving each mortgage holder a $5,000 pre-approved line of credit and our FiveStar Chequing Account to aid them in managing some of their post-closing expenditures.”

LUMINUS FINANCIAL’S Clearly Better Mortgages offer:

  • BEST RATE GUARANTEE: 2.95% for 5-year fixed mortgage and will beat any rate from another financial institution by 0.05%
  • $500 Referral Bonus: shared between members or non-members and the mortgage applicant they referred 
  • Automatic $5000 Line of Credit to help homeowners manage post-closing expenditures (moving, renovations, etc.) 
  • FREE FiveStar Chequing Account, with no monthly fees, no minimum monthly balance, no transaction fees and $500 in Overdraft Protection 
  • Competitive home and title insurance 
  • Exclusive Member Rebate Program: a bonus for having a mortgage with Luminus 
  • Individual AND Co-ownership Mortgages available

Additional features include:

  • Convenient term lengths - variable or fixed 1, 2, 3, 4, 5 or 7 years 
  • Flexible repayment schedules - weekly, bi-weekly, semi-monthly and monthly
  • Payments can be made through payroll deductions, automatic transfers or direct deposit 
  • Lump sum payments accepted - up to 25% prepayment annually without penalty
  • Increase payment options of up to 25% once per year
  • Up to 95% financing 
  • Up to 30 year amortization (with a 20% down payment) 
  • Rates guaranteed for 120 days 
  • Accelerated payments available 
  • Mortgage life insurance, disability and loss of employment insurance available

For more information or to apply, please call Luminus Financial’s Mortgage Specialists at 416.366.5534 or 1.877.782.7639 or click here.

* There are 40 referral bonuses to claim on a first-come, first-served basis based on the registration date of the qualifying mortgage. Bonus applies only to mortgages with a principal amount of at least $150,000, granted to a qualifying borrower who has not been previously granted a mortgage by Luminus on any property within the last 12 months. Luminus will pay $250 to the borrower, and $250 to the member referring the borrower, upon registration of the mortgage in favour of Luminus.

About Luminus Financial

Luminus Financial (formerly Starnews), an Ontario credit union, was founded in 1951. Headquartered in Toronto, Canada, Luminus provides banking products and services, including business and personal banking, loans, investment products and insurance to over 4,500 members.

Renamed in 2011, Luminus is the designated credit union for employees of Toronto Star, Metroland, Air Canada, Globe and Mail and Metro. Members of Luminus are also owners of the credit union. At Luminus, members have access to financial services at the least possible cost. Additionally, Luminus' profits are shared with its members in the form of bonus interest on deposits and interest rebates on loans and mortgages.