MortgagesGreat rates, expert advice and personal service

Mortgages are personal loans that assist you in acquiring real estate  or if you currently own property, borrow against the equity in your home for other purposes.

Whether you are buying a home for the first time or renewing your mortgage, we understand the importance of providing the best possible mortgage package so your home or renovations are truly affordable. We offer a wide range of options – including pre-approved mortgages – with competitive rates and no hidden fees, flexible terms and convenient repayment schedules that will suit your budget and your lifestyle.
 
Benefits Features
Choice and flexibility Variable or fixed interest rates.  Variety of terms, from six to 60 months.  Variety of flexible repayment schedules: weekly, bi-weekly, monthly or semi-monthly.
Saves money No penalty for early payout on variable mortgages.   30% annual pre-payment privilege on fixed mortgages.
Free transfers Existing mortgages can be transferred FREE to Casera from most financial institutions.
Pre-approval Provides a strong negotiating tool.  Guarantees interest rates on pre-approved mortgages for 90 days, provided possession is within that period.
Portability After selling, the balance of your existing Casera mortgage (with current interest rate) can be transferred to your new home’s mortgage.  Adding funds to the mortgage at the current rate can result in a blended interest rate.
Assumability Your Casera mortgage can be assumed by an eligible purchaser, allowing them to take over your mortgage with existing terms and at present rates.
Peace of mind Low-cost mortgage protection insurance* ensures payment of the balance of your mortgage in the case of death. Optional coverage is available for disability, loss of employment and critical illness.
*Group Mortgage Protection Insurance and Home Insurance is underwritten by CUMIS Life Insurance Company and is provided to credit union members through the Credit Union Insurance Services program.
Fees
Contact a Financial Services Officer at your neighbourhood branch.

View Casera’s service fees.

Mortgage Options Expand/Collapse

First & Second Conventional Mortgages

A member receives these loans against their existing or prospective homes. These mortgages require down payments of at least 20%, permitting up to 80% of a home’s appraised value to be borrowed. Maximum amortization is 30 years.

High Ratio Insured First Mortgages


These mortgages are designed for first-time buyers and require down payments of 5%, which permits up to 95% of a home’s value to be borrowed. Canada Mortgage and Housing Corporation (CMHC) or Genworth Canada insures the mortgages. Amortization is 25 years.

Builder Mortgages


Members receive these loans to assist in building new homes. These mortgages are available on a conventional basis or through CMHC or Genworth Canada. Based on contractor quotes, funds are advanced in stages throughout the building process.

Interim Financing Loans


Provides purchasers of new homes with the funds required to close the deal prior to receiving funds from the sale of their existing home. Terms are generally three months in duration. Upon maturity, the outstanding principal and interest is payable in full.

Your Pre-Approved Advantage Expand/Collapse

When it comes time for you to make an offer on a new home, a Casera pre-approved mortgage can be an advantage. Pre-approval provides an affordable price range based on your qualified mortgage. It can also be a determining factor in negotiations because the seller knows your ability to obtain mortgage financing is secure.

Casera guarantees interest rates on pre-approved mortgages for 90 days, provided possession is within that period.
 

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U B variable or fixed mortgages