Mortgages

 

Purchasing a home is one of the biggest financial investments you’ll ever make and your Manitoba Mortgage will likely be the largest loan you’ll ever have. But a mortgage is not just about getting a loan.

It’s about finding a home, which makes it a significant personal investment as well. So when you’re looking for mortgage financing to help you buy your home, it’s doubly important that you get sound advice from a source you trust.

Purchasing a home is one of the biggest financial investments you’ll ever make and your Manitoba Mortgage will likely be the largest loan you’ll ever have. But a mortgage is not just about getting a loan. It’s about finding a home, which makes it a significant personal investment as well. So when you’re looking for mortgage financing to help you buy your home, it’s doubly important that you get sound advice from a source you trust.

That’s where Sunrise Credit Union comes in. We create made-in-Manitoba Mortgage Solutions as unique as the homes and the people who live in them.

Mortgage Downpayment

A minimum of 5% of the purchase price of the home is required. When a home is purchased with a down payment between 5% and 20% of the purchase price, this is referred to as a “high ratio” mortgage. These mortgages were introduced through the National Housing Act in order to assist more Canadians in owning their own home. This privilege carries with it a premium (insurance coverage for lender). However, this cost can be added to the amount of the mortgage so it is not necessary to come up with the extra cash at the time of purchase. Sunrise Credit Union uses both Genworth and Canada Mortgage & Housing Corporation (CMHC) for insurance. Each insurance provider has unique benefits to you, the borrower, so please discuss the options with your Sunrise Credit Union Loan Officer.

 

What You Should Bring With You:

 

  • Most recent CRA issued Notice of Assessment from the past two years
  • 2-3 of your most recent pay stubs
  • List of current assets
  • List of current liabilities

 

If you have a specific property that you are interested in purchasing, please also bring:

  •  Annual property tax amount
  • Monthly heating costs
  • Age of home
  • Square footage of home
  • Garage size

 

Pay Your Mortgage Off Faster!

 

We are pleased to offer the Membership:

  • 20% prepayment privilege once per year on closed variable rate mortgages. With this member privilege, you can double your payment monthly anytime you want over and above the 20%*
  • 20% prepayment privilege on all fixed rate mortgages*

 

*Some conditions do apply

To start your mortgage application today contact your closest branch.
View our current rates by clicking here
 

Secure login

Not a member yet? Join Us