Whether you’re purchasing a home for the first time, renewing your mortgage, renovating your current home or buying a new one, we are committed to putting together a mortgage that meets your needs.

Getting pre-approved for a mortgage is quick and easy. Simply speak with a Mortgage Expert at your nearest community branch location or apply today, Online - Joint Applicants or Single Applicant.

We offer

  • Local decision-making
  • Mortgage pre-approvals
  • 60-day interest rate guarantee
  • Competitive interest rates
  • Re-advanceable without having to pay extra legal fees
  • Fixed, open and variable rate mortgages with flexible repayment options including monthly, semi-monthly, bi-weekly or weekly
  • 6 months to 5 year terms
  • Prepay, at anytime, up to 20 per cent of the original mortgage balance per year
  • Up to 30 year amortization
  • Protection-Life, disability, critical Illness & loss of employment insurance
  • CMHC insured mortgages available
  • A commitment that keeps interest local
  • Construction mortgages
  • Mobile home lending options
  • Land lending options

Mortgage Tips

Choose a Term You Can Live With
Look carefully at your term and interest-rate options, but also consider the payment that you can comfortably afford. Predicting future interest rates is a tough enough job, so leave some wiggle room.

What Kind of Borrower Are You: Fixed or Variable?
Interest rates for a fixed-rate mortgage are set for the term of the mortgage. Monthly payments remain the same throughout the term. Regardless of whether rates move up or down, your personal budgeting is simplified by knowing exactly how much your payment will be. You may prefer to lock in for a longer term when interest rates are low. You’ll benefit with a fixed-rate mortgage if interest rates go up.

A variable-rate mortgage provides more flexibility and is more beneficial to you when interest rates decrease. When this occurs, more of your monthly payment will go towards decreasing your outstanding debt (principal), and less towards the accrued interest. The opposite is true when rates increase. If rates rise substantially, however, your original payment may not be enough to cover both the interest and principal and your cash flow will suffer, as you’ll need to increase your regular mortgage payment.

Open and Closed Mortgages
An open mortgage gives the flexibility of repaying your mortgage at any time without penalty. You might consider an open mortgage if you are thinking of selling your home, expecting to pay off the whole mortgage from the sale of another property, expecting an inheritance or if you think interest rates will be decreasing and you would like to potentially lock in at a lower rate in the future.

A closed mortgage offers the security of fixed payments for longer terms. Interest rates are considerably lower with closed rather than with open mortgages. Many people prefer closed mortgages and use alternative tips (see below) of paying off their mortgage sooner, if they are financially capable.

Buy a New Home or Sell Your Current One First?
Selling first can offer peace of mind and also provides you with a clearer financial picture on the affordability of a new home. Furthermore, selling and having cash in hand can enhance your negotiating power with an unconditional offer. If you are choosing to buy first, it is normally recommended that your purchase is conditional on selling your current house. Thus, if you don’t sell your current home, you won’t be in such a financial squeeze.

Information contained herein is compiled from sources believed to be accurate; however, the publisher assumes no responsibility for errors or omissions.

The articles and opinions in this newsletter are for general information only and are not intended to provide specific advice or recommendations for any individual.