LaHave River Credit Union offers High Ratio, Conventional and Collateral Mortgages. HELOCs are also available.

Conventional mortgages may have a down payment as low as 5%.  These mortgages are high ratio and are GENWORTH insured.  GENWORTH mortgages are charged a mortgage insurance premium.  Conventional mortgages under 80% do not require GENWORTH 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  ( 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

YOU COULD BE LIVING IN YOUR OWN HOME IN AS LITTLE AS TWO WEEKS