Mortgages

Conventional Mortgages

We can help you purchase your first home, renew an existing mortgage or transfer a mortgage to our credit union.  Obtaining a mortgage can be complicated and overwhelming, but we can answer all of your questions and guide you to the best solution for your needs.  We offer Conventional Mortgages, High Ratio Mortgages and MeritLines.

Our mortgages provide our Members with the following features and options:

  • Amortization up to 25 years
  • Closed terms from 1 to 5 years
  • Blended monthly payments
  • Weekly, bi-weekly, semi-monthly, or monthly repayment options
  • 20% Annual Prepayment Feature
  • High Ratio Mortgages Available - up to 95%
  • Group Creditor Insurance Available

Apply Online, and we will contact you shortly!

First-Time Buyer?
As a first time home buyer you are eligible to participate in the Home Buyer’s Program (HBP) which allows you to withdraw from your registered retirement savings plan (RRSP).  You can withdraw up to $25,000 and will be required to repay it within 15 years. 

Learn More about this great opportunity.

 

MeritLine Home Equity Line of Credit

MeritLines are home equity lines of credit that are secured by a mortgage against the property that you own.  Because it is secured, Members enjoy a lower interest rate than a regular line of credit.  A MeritLine provides revolving funds that can be accessed over and over and paid down at your convenience.  MeritLines provide a great option to those Members who have equity in their home and would like to enjoy freedoms like vacations, home improvements or a new vehicle without having to apply for a new loan each time you need additional funds.

How does it work?
For example, you have a home with an appraised value of $200,000 and an outstanding mortgage of $50,000.
65% of $200,000 = $130,000.
Deduct present mortgage = $130,000 - $50,000 = $80,000.
We can offer a MeritLine in the amount of $80,000, subject to approval.

Our MeritLine mortgages provide our owner-occupied Members with the following features and options:

  • Amortization up to 25 years
  • Blended monthly payments
  • Weekly, bi-weekly, semi-monthly, or monthly repayment options
  • Mortgage Life Insurance Available

Apply Online, and we will contact you shortly!

 

Find Branch/ATM

Enter address, postal code or branch name