You expect to find the perfect house, why not the perfect mortgage too? At Assiniboine we understand that when it comes to mortgages, one size definitely does not fit all. That's why we've created an entire family of innovative mortgage options designed to fit your needs, no matter what stage of life you're in. Your Assiniboine mortgage specialist can help you review your mortgage options and choose the one that's your perfect fit.
Regular Term
Get your mortgage on your terms! We offer competitive rates on open and closed mortgages with terms ranging from six months to five years.
Cash Back
ACU's Cash Back Mortgage is a great way to get extra cash up front to pay for furniture, appliances and all those other home essentials. Take out a 5-year mortgage and you get 4% cash back. Or get 3% cash back on a 4-year mortgage, 2% cash back on a 3-year mortgage, or 1% cash back on a 2-year mortgage.
5-Year Variable Capped
ACU's 5-Year Variable-Capped Mortgage gives you the flexibility of a variable rate based on prime and the protection of a fixed rate by having a maximum rate cap. You're protected if rates rise and still save if rates go down - it's the best of both worlds! Your variable rate floats based on the current prime rate. Plus, budgeting is easy because your regular payments (based on your capped rate) remain the same no matter how the variable rate fluctuates. So, if rates decline, your mortgage gets paid off sooner.
Revenue Property
If you are considering purchasing a residential property for investment purposes, Assiniboine can help. The conditions and features of mortgages for revenue properties vary somewhat from a mortgage on your place of residence. To qualify for a Revenue Property Mortgage, you must demonstrate that your personal financial situation and the income you will receive from owning the property will be sufficient to cover the taxes and payments. Factors such as the potential vacancy rate, cost of repairs and maintenance are considered.
Vacation Property
Whether you are looking for a small hideaway for those summer weekends or building your future retirement home, Assiniboine can help make this dream affordable.
Builder's Mortgage
A Builder's Mortgage allows you to construct a home and pay for it in stages as it is being built. With a Builder's Mortgage, the approval process, payment terms and down payment are based on the projected value of the completed home. An appraisal based on the home's blueprints and materials selection determines the lending value of the property. Once construction is under way, you will be required to make regular monthly interest payments on the funds that have been advanced according to the payment schedule in your building contract. When construction is complete, the mortgage is fully advanced and regular principal and interest payments start.
Purchase Plus Improve
Found a great fixer-upper? A Purchase Plus Improve Mortgage allows you to include some renovation costs in your mortgage. You start by arranging your mortgage for the initial purchase price. Then list your planned renovations and have an appraisal done to establish the increase in value resulting from your proposed improvements. The down payment and approval process is based on the projected value of the home once the renovations are complete.
Home Advantage Plan
You've built the equity. Now, build the dream. Take advantage of the strong foundation you've built in your home. Ask us how you can find all the credit you need…right under your own roof. To arrange an appointment, contact the Member Communication Centre at 204.958.8588 or toll free at 1.877.958.8588. The ACU Home Advantage Plan gives you credit for the equity you've built in your home. Use it to increase your home's value with renovations, consolidate credit cards, finance your children's education and more. It's flexible – you decide when and how to spend your money. Simply put, with this plan, as the value of your home goes up, you can access funds more quickly, while avoiding associated fees. And it's tied to your mortgage, so it comes complete with an exceptionally low rate. It's the tool you need to help build your dream!
Islamic Mortgage
Available only in Manitoba. We are pleased to offer the Assiniboine Credit Union (ACU) Islamic Mortgage – a competitively priced product designed for the Muslim community in Manitoba. Our Islamic Mortgage Specialist can assist you to purchase a home or transfer your existing mortgage to one that is compliant with your Islamic faith.