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Residential Mortgages
Do you want approval within 24 hours?
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| LaHave River Credit Union can arrange a mortgage product to meet your needs. |
LaHave River Credit Union offers Conventional Mortgages, Collateral Mortgages and Pre Approved Mortgages.
Conventional mortgages may have a down payment as low as 5%. These mortgages are high ratio and are CMHC insured. CMHC mortgages are charged an application fee and a mortgage insurance premium. Conventional mortgages under 80% do not require CMHC insurance and are not charged an application fee or a mortgage insurance premium.
Collateral mortgages require a down payment of at least 20%. There are no application fees or mortgage insurance premiums. Amortization periods are available from 1 to 25 years, interest rates from 1 to 5 years. Payments may be made weekly, bi-weekly, semi-monthly or monthly. These mortgages are repayable early with no penalties.
| Some of the requirements for approved mortgages include: |
proof of down payment
proof of funds for closing costs (CMHC insured only)
Borrower qualifications with satisfactory credit rating and industry standard debt service calculations
stable and confirmable income
water test if applicable
acceptable appraisal if applicable
Life, Disability, Loss of Employment & Critical Illness Insurance also available at competitive rates.
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YOU COULD BE LIVING IN YOUR OWN HOME IN AS LITTLE AS TWO WEEKS.
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