Residential Mortgages
Mortgage Products
Types of Residential Mortgages
Purchases | Purchase plus improvements | Condominiums | Mini Homes | Modular Homes |
Construction Mortgages | Second Homes and Cottages | Equity Takeouts/Refinances
Purchases
Interested in buying a home but aren’t sure how much you’re qualified to borrow?
Construction Mortgages
Interested in building a new home but aren’t sure how much you’re qualified to borrow?
Equity Takeouts/Refinances
Interested in renovating your home but aren’t sure how much you’re qualified to borrow?
Condominiums
League Savings and Mortgage offer high ratio and conventional financing for condominiums. Refinances and transfers are eligible.
Purchase Plus Improvements
The purpose of the Purchase Plus Improvements program is to help qualified home buyers tailor improvements…
Second Home & Cottages
Secondary Home Mortgage allows borrowers to obtain financing on the purchase of a second home…
Mini Home
Mini homes can be on owned land or on leased land in a mini home park.
Modular Homes
A factory-built structure in two or more sections in accordance with provincial and local building codes and transported to the property site for final assemble.
Residential Mortgage
Features
Our mortgage features provide flexibility and allow you to tailor your mortgage to meet your financial requirements.
Terms include:
- Open (6 months) or closed (6 months – 5 years)
Amortization Periods include:
- Up to 25 years
Payment frequencies include:
- Weekly, bi-weekly, semi-monthly and monthly
Pre-payment privileges include:
- Increase your regularly scheduled payment by 20% in a 12 month period
- Pay an additional 20% of the outstanding balance in a 12 month period
- At renewal, any amount can be paid down on the mortgage without penalty
- Can change frequency of payment to weekly or bi-weekly accelerated
Pre-payment penalties are charged for:
How can you avoid prepayment charges?
- Blending the interest rates when refinancing
- See prepayment privileges above
Broker Commission Schedule
League Savings and Mortgage Broker Commission Schedule
- 1 year term 15 bps
- 2-year term 30 bps
- 3-year term 45 bps
- 4-year term 60 bps
- 5-year term 75 bps
Residential Mortgages
Contact us for information about your Residential Mortgage.
Property taxes can be collected with mortgage payment.
Cash back mortgages offered, up to 5% (can not be used for down payment).
Title Insurance is accepted.
More information on mortgages can be obtained by viewing the website of The Financial Consumer Agency of Canada.