If you’re like most people, the mortgage on your home is your largest single investment and your most valuable asset. It should be working for you while you’re building equity. A re-advanceable mortgage is the most flexible and convenient way to make that happen, allowing the equity in your home to save you thousands of dollars in the event you are financing large purchases. You can use your equity to renovate your home, purchase another property, pay for your child’s education, purchase other assets, or even to save money by consolidating high-interest debt.

Unlocking the equity in your home with a re-advanceable mortgage, like NDCU’s CreditMaster® mortgage, gives you access to a number of borrowing options best suited to your specific needs. Essentially, this is the last mortgage you will ever need! As the equity in your home increases, future loans can be made under the CreditMaster® Mortgage without the necessity (or legal cost!) of registering another mortgage. All advances are based on your home's current appraised value, and an unlimited number of loans, including lines of credit, can be created under one mortgage. This provides the options that really matter to borrowers, options that adapt to a family’s changing financial needs, whatever they are and whenever they arise.

Some other important things to know about the CreditMaster® re-advanceable mortgage:

  • It can be used for conventional and high-ratio, home-equity residential mortgages, as well as conventional construction mortgage financing.
  • It can be customized to suit your individual needs for any length and any type of mortgage offered by NDCU.
  • It can be segmented to get maximum advantage from blending low short-term interest rates with long-term rate stability.

The CreditMaster® mortgage offers a maximum convenience from the start, plus more power to pursue your dreams as you build equity. For more information about this unique mortgage product, contact us today!