Any mortgage will help you finance the purchase of a house. Our mortgages are designed to help create a feeling of home. Whether it’s your first purchase or your next home, to renovate, refinance or to buy that cabin by the lake you’ve been dreaming of, we don’t just offer mortgages. We offer the kind of financial partnership and support that will help you live the life that you and your family deserve.
CreditMaster® Mortgage This all-in-one plan brings all of your personal debt under one lending umbrella. So if you have high-interest household debt or need access to cash to make renovations that will increase the equity in your home, this flexible mortgage offers great options for getting debt – and mortgage – free, faster. It’s your choice on how you would like to split your mortgage and which products to use. Choose between our fixed, variable and Primeline (LOC) mortgages. This mortgage is registered with no specific amount, so when the equity in your home increases future funds become available and do not require any new registration, saving you hundreds in legal fees.
CreditMaster® Primeline Mortgage Our customizable CreditMaster® Primeline Mortgage is the ideal choice if you’re comfortable with a floating rate. That’s because as the balance of your mortgage goes down and your property value goes up, your borrowing power increases. With our CreditMaster® Primeline Mortgage, you can bundle all your mortgage and other personal debt into one dynamic product, helping you pay down household debt faster and become mortgage free sooner. Features of this mortgage include:
attached to your account as a Line of Credit
interest is charged only on the amount you use
pay as much or as little of the principal as you choose (interest must be paid each month)
access funds through transfers, cheques, ATM withdrawals and online banking
convert all or part of your CreditMaster® Primeline mortgage to a fixed-term mortgage at any time
Fixed or variable rate mortgage A fixed rate means your interest will be the same for the term of your mortgage, so you’ll always know what your mortgage balance will be at the end of your term and avoid risks with increasing rates.
With a variable rate mortgage, if prime rate goes down, so does your rate. The same is true if prime rate goes up. You always have the option to lock into a fixed rate for the duration of your term at any time.
Both of these mortgage types feature:
terms of 6 months to 10 years
weekly, bi-weekly, monthly or semi-monthly repayment terms
amortization of up to 25 years
the option to pay up to 20% of the principal annually
the option to increase your monthly payments by 50%
the option to double your mortgage payments up to 3 times per year
up to 95% financing
Construction Mortgage While building your own home can be a creative and exciting experience, it can also present some complicated financial challenges. We offer a construction mortgage that provides you with the support you need from start to finish. Features of our construction mortgage include:
funds advanced in stages based on home completion and as needed
can be set up as a term mortgage or a readvancable mortgage
flexible terms and conditions to meet your unique needs