You expect to find the perfect house. Why not the perfect mortgage too? You can count on us for more options and more flexibility.
Benefits of Our Mortgages
- Flexibility. Choose between a fixed or variable rate mortgage with terms ranging between six months to five years.
- Multiple payment options. Select weekly, bi-weekly, semi-monthly or monthly payments to fit your cash flow. You can also choose accelerated payment options — either weekly or bi-weekly.
- Prepayment. You can prepay up 20% of your original or renewed mortgage balance each year with no penalty or service fees. You can prepay by increasing your payment by a fixed amount, making an additional mortgage payment, making one maximum-allowed lump-sum pre-payment each year of your mortgage, or making a number of smaller pre-payments at any time each year.
- Portability. If you have the perfect mortgage but not the perfect house, you may want to take your mortgage with you when you purchase a new home. The portability feature applies to all our mortgages at no cost to you.
- Assumption. Transfer your mortgage terms to the buyer when you sell (buyer must qualify for the mortgage at the current posted rate).
- Protection. You can protect yourself and your family with credit insurance available through CUMIS for loss of employment, loss of life, disability and critical illness (with qualification).