Mortgages
Are you shopping for a new home? An acreage? Or is your mortgage renewing?
Let us pre-approve your loan or mortgage
“Apply Before You Buy”
A Cypress Credit Union Pre-Approved Loan gives you the go-ahead to go out and shop for the item you want, negotiate the best price and close the deal on the spot. It’s a smart way to make your major purchase.
Because your loan is pre-approved beforehand, there are no hassles when financing your purchase, no hidden fees and very competitive rates. It’s that simple.
In most cases, you’ll have your pre-approved loan in 24 hours.
Choose from a wide selection of mortgage options:
CHMC Financing
Canadian Mortgage and Housing Corporation’s (CMHC) Home Loan Insurance allows you to buy a home with as little as 5% down. Your mortgage is insured up to 95% of the lending value of the home. It can be a new home or a resale home.
Conventional Financing
Pay off your house faster and save on interest by putting at least 25% down.
Open Mortgages
- Fixed Rate
- Prepay or repay anytime without penalty or bonus
- Convert to another CU choice mortgage option at anytime
- 1- to 5-year terms available.
Benefits of a Cypress Credit Union Mortgage
At Cypress Credit Union, in most cases, you can pay off your loan from your own funds without penalty. This could save you thousands of dollars on your interest payments.
You will also enjoy the flexibility of choosing to make bi-weekly, semi-weekly, semi-monthly or monthly payments.
For your convenience farms and commercial mortgages are set up on a semi-annual payment. Monthly, annual and quarterly payments are also available.
Cypress Credit Union loans can open doors for you…and our loans policy is now more convenient than ever!!
No elected officer of Cypress Credit Union Limited will be included in the approval of credit. All credit approval will be dealt with by an internal approval body consisting of Senior Management and Lending Services representatives. This gives quick response times with respect to credit requests and approvals.