Mortgages

Fixed Mortgage Specials Expand/Collapse

OCCU offers flexible options to meet your needs including
  • Pre-qualifying available
  • Conventional mortgages (up to 80% of recently appraised property value)
  • CMHC or Genworth insured mortgages
  • Convenient weekly, bi-weekly, semi-monthly or monthly payments directly from your credit union account, another financial institution or payroll deduction
  • Life insurance available, conditions apply
  • Disibility insurance available, conditions apply

MasterPlan Expand/Collapse

The MasterPlan Mortgage is a hybrid re-advancable mortgage with the potential to have either, or both a fixed term and line of credit component. The MasterPlan provides excellent flexibility with the potential to develop and change with your borrowing needs. You have the flexibility to modify the aggregate amount you are approved for between the various products offered under the MasterPlan.

Special Features:

  • Free unlimited activity including self service and full service (some exceptions apply i.e. interac ATM surcharges)
  • Full access chequing account
  • Competitive interest rate for balances above $5,000
  • Attached to your MasterPlan line of credit or stand-alone
  • Exclusive to MasterPlan mortgage holders
  • Optional interst saving feature: automatically have your MasterPlan line of credit balance reduced daily with every deposit. The resulting increased available limit is still accessible for re-advancement as required, potentially resulting in substantial savings over the course of your mortgage.

Below Prime Expand/Collapse

  • Based on OCCU Prime less ½%
  • 5 year term (can be converted to closed mortgage), conditions apply
  • Opportunity to "cap" rate by paying OCCU prime less ¼% from the issue date
  • By capping rate, OCCU will not exceed our posted 5 year rate plus ½% at the time of issue
  • Qualifies for "pre-payment" options

Conventional Expand/Collapse

OCCU offers conventional mortgages with flexible options to meet your needs, including:

  • Terms from 1 year to 5 years (open or closed)
  • Variable Rate or Fixed Rate options
  • Pre-qualifying available
  • Competitive Rates
  • Conventional mortgages (up to 80% of recently appraised property value)
  • CMHC or Genworth insured mortgages
  • Convenient weekly, bi-weekly, semi-monthly, or monthly payments directly from your Credit Union account, another financial institution or payroll deduction
  • Life insurance available, conditions apply
  • Disability insurance available, conditions apply
Looking for more flexibility than a conventional mortgage? An OCCU MeritLine may be perfect for you.

CMHC Expand/Collapse

  • Financing available for up to 95% of value on purchase
  • Fixed or variable rate, conditions apply

Home Equity Line of Credit (HELOC) Expand/Collapse

A line of credit, secured by your property. Has flexible repayment terms, competitively priced and remains in place as long as you own your home.

Want more flexibility with your mortgage? Why not try an OCCU Meritline HELOC mortgage.

Let the equity in your home work for you. A Meritline is a perfect solution for the active borrower and guarantees you one of OCCU's lowest rates.

You can choose your payment by making a fixed monthly payment or as little as interest only. You can re-borrow what you've paid down again and again, up to your pre-approved limit.

Borrow up to 80% of the recently appraised value of your home.

  • Works as a fully secured line of credit (qualifies for interest based on OCCU prime +)
  • No pre-payment penalties
  • Allows you to access the money you have when you need it
  • Advance the avilable funding to buy a car, cottage, education fees, vacation or renovations
 

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