Why a Mortgage With Us?


REASONS TO CONSIDER AN ENCOMPASS CREDIT UNION MORTGAGE:

1. NO PREPAYMENT PENALTY

Save money by paying off your mortgage more quickly with either a lump sum payment or by increasing the amount or frequency of payments... all without penalty. When you pay out your mortgage with funds from your own resources, like the sale of your home, there is no mortgage payout penalty.

2. EASY MORTGAGE TRANSFER

It's easy to transfer your existing residential mortgage and take advantage of the benefits of a mortgage with us. Ask to meet with one of our experienced mortgage professionals and they will work with you through the entire process. We make it simple!

3. MORTGAGE PORTABILITY

You may be able to transfer the outstanding balance and the advantage of your Encompass Mortage from one home to another within the province of Alberta. If you are a military member or a member of the RCMP, you may be able to continue with the same interest rate, term and payments when you relocate.

4. FLEXIBLE PAYMENT OPTIONS

You can choose from monthly, semi-monthly, bi-weekly and weekly payment options to fit your schedule and lifestyle. You can also decide to increase your payment if you'd like to pay your mortgage off more quickly.

5. PROPERTY TAX CONVENIENCE

At your request, we will include an amount to cover your property taxes in your payment. The tax portion of your payment will accumulate in a special account, earning interest, and are remitted to the municipal tax authority when they are due. You never need to worry about saving to pay them - or even remember to do it!

6. COMPETITIVE INTEREST RATE OPTIONS

You can count on us to offer a variety of competitive interest rate options. The choices range from the flexibility of a short term open mortgage to your choice of fixed rate options from one to five years. Our variable interest rate morgage is based on the credit union prime lending rate. You can decide on a five-year term with a capped rate or enjoy the ability to convert to a fixed rate at any time.

7. YOUR MORTGAGE CAN BE PROTECTED

You can have peace of mind when you make sure your outstanding mortgage balance is protected by life and disability insurances offered through an affordable group policy. Insuring your mortgage is an advantage and will help you protect your loved ones from unexpected events.

8. APPROVED LENDER

Your credit union is an approved lender with Canada Mortgage and Housing Corporation (CMHC) and Genworth.

9. MORTGAGE PRE-APPROVAL

Before you actually start looking for a home, you can meet with one of our trained mortgage professionals to discuss a mortgage. Once we have completed the mortgage pre-approval process, you can shop for your new home, confident that your funding is already in place.

  • Closed Mortgage Option: If you're looking for stability in your interest rate, then you'll find this option attractive. The payment amount is constant during the term of the mortgage. We offer terms ranging from 6 months to 5 years.
  • Open Mortgage Option: This option is appealing to those who prefer flexibility. With an open mortgage, you can pay out, prepay, rewrite or renew at any time without penalty.

MORTGAGE OPTIONS


GETTING STARTED

If you're interested in a Residential Mortgage, please contact your branch for an appointment or you can get started with a Preliminary Application online right now!

Preliminary Mortgage Application

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