Mortgage
Types
Belgian Credit Union
offers conventional mortgage financing up to 85%, which is 10%
less than banks require for a down payment.
- The house must be an
owner occupied single family dwelling (condominiums multi-family
and builder's mortgages do not qualify)
- Minimum value of $75,000
verified by accredited appraiser
- Maximum loan amount of
$150,000
- House must be located
in the city of Winnipeg
High
Ratio Insured Mortgages
You can purchase
a home with as little as 5% down with a mortgage insured by Canada
Mortgage and Housing Corporation.
The
Ultimate In Flexibilty
Fixed
Rate Mortgage: With this plan the interest rate and payment
amount are fixed for a term of six months to five years. You can
pay up to double your payment each and every time you make a payment
with no penalty. All of the extra amount goes directly to the
principal. You're also allowed an extra 25% of the principal balance
on each anniversary date.
Variable
Rate Open Mortgage: Here's the ideal plan for those who
expect to be in a position to significantly prepay their mortgage.
With this plan the interest rate fluctuates with market conditions.
The variable rate open mortgage can be paid off in full or in
part at any time without penalty. If and when you decide that
the time is right to "lock in", you can renew to the
fixed rate plan for the term of your choice.
Pay
Down and Re-Advancement: Pay down your mortgage and, if
you require it, funds can be re-advanced. Give us a call for more
details.
Speedy
Approvals
In most cases,
we can provide you with an answer on your mortgage within 24 hours.
Also, consider getting a pre-approved mortgage to give you the
security of knowing your price range. |
