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Introducing the Feel-Good Mortgage
Buying a house is a good financial decision. Especially with an exceptionally great rate you can feel good about. Why? Because the best way to actually feel good about your money, is for you to keep more of it.
Great rates and a new home. What's not to feel good about?
The six month convertible mortgage gives you flexibility and freedom. It provides a competitive interest rate and the option to lock in when the time is right for you.
Get the best of both worlds. The security of a fixed, five-year rate that is discounted with the flexibility to renew for a new five-year term at a lower posted rate should mortgage rates decline.*
*Rate based on current posted 5 year closed mortgage rate less 0.75%. Rate may fluctuate without notice.
With a Servus Credit Union 5-year Variable Rate Mortgage your interest rate will fluctuate with any changes in our prime interest rate. That means if interest rates fall, your interest costs will reduce, allowing you to pay off your mortgage faster. Alternately, if interest rates increase, your interest costs would rise. Traditionally variable rate mortgages typically offer a lower interest rate than fixed rate mortgages, which allows you to save money over the long term.
The 5-year Variable Rate Mortgage is also Convertible which means your mortgage can be converted to fixed rate mortgage at any time. This flexible feature gives you the reassurance that you can lock in your interest rate should the variable rate option no longer meet your financial goals.
Use the equity in your home as security to receive a preferred lending rate. A Capital Line can be used for any number of things, like buying a home or paydown your mortgage, purchasing a new vehicle or for emergency funds.
A closed term mortgage is your choice for security. Your interest rate is fixed for the term of your mortgage and you have the comfort of knowing exactly how much your payments are during this period.
An open mortgage gives you the ability to payout, prepay, rewrite or renew at any time. A processing fee may apply.
Stretch your borrowing power with the HomeFlex Mortgage. Choose any financing combination - like our fixed rate Mortgage Sale for your home purchase and a variable rate for a trip or car. As you pay it down, you're pre-approved to borrow those funds again, for anything, at low mortgage rates. Convenience and flexibility in one mortgage.
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