The Credit Union has the following mortgage types:

Conventional (PRIMA)

The mortgage amount does not exceed 80% of the appraised value or purchase price of the property, whichever is less. The Conventional (PRIMA) mortgage, once established, is re-advanceable back to the original registered amount, for any reason, with very minimal legal expense. The maximum amortization is 35 years.

High Ratio

The mortgage amount required exceeds 80% of the appraised value or purchase price of the property, whichever is less. This type of mortgage provides insurance to the credit union who will receive payment in case of default by the borrower. High ratio mortgages offer up to 95% financing to borrowers who have a good credit history and sufficient income to support the financial obligations of homeownership. The maximum amortization is 35 years.