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Closed Fixed Construction Mortgage
Pay a lower interest rate on your construction. Plus, protect yourself against rate increases.
- Construction Advances: Stages 1 to 4
- Term Length: 6 month, 1, 2, 3, 4, 5, 7, and 10 years
- Payment Options: Flexible
- Additional Payments: Not more than 20% of the original amount of the mortgage during each 12-month period from the anniversary date. This privilege is not cumulative and does not apply if you wish to prepay the mortgage in full
- Fees:
- Applicable application fees
- Credit Bureau Search: $5.80
- Person Search: $18.00
- Other fee consideration from 3rd parties such as legal and appraisal fees may apply
- Rewards: Earns quarterly Member Rewards
For full details, please see our account and fee information.
Closed Variable Construction Mortgage
Pay a lower interest rate on your construction.
- Construction Advances: Stages 1 to 4
- Term Length: 5 years
- Payment Options: Flexible
- Additional Payments: Prepay without penalty, unless payment is received directly or indirectly from another lender, in which case a 90-day interest penalty applies
- Amortization: as per lending schedules
- Fees:
- Applicable application fees
- Credit Bureau Search: $5.80
- Person Search: $18.00
- Other fee consideration from 3rd parties such as legal and appraisal fees may apply
- Rewards: Earns quarterly Member Rewards
For full details, please see our account and fee information.
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