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Types of Mortgages
Types of Mortgages
Find the right fit for you
New Construction Mortgage
When you need financing to build a new home, your first step is to talk to us. We'll guide you through the steps of your project, determine what you can afford and answer your questions along the way.
- Funds are disbursed during the construction phase in 3 or 4 payments to cover the costs during construction.
- Interest is paid on the balance used during the construction phase, and once construction is complete, regular payments start.
Residential Mortgage
Whether you are looking for your first home or a home that will fit your growing family, we can help you determine what you can afford and answer your questions about the home ownership process.
- For purchasing or renovating a home or revenue property, or for debt consolidation
- A variety of terms and payment options available to suit your needs
- 20% down payment
- If you don't have 20% for your down payment, then options are available with our partners CMHC or Sagen
Home Equity Line of Credit (HELOC)
Take advantage of the equity in your home and use it to secure a HELOC.
Funds can be used to renovate, consolidate debt, take a holiday ... the options are endless.
- Funds are available at any time, with access through a separate chequing account and can be paid down and reused
- Preferred interest rates
- Payments are based on the balance you have used