Understanding Mortgages

Our lending specialists can provide you with more information on the following topics, and answer any additional questions you may have:

Pre-approved Mortgages

We can pre-approve your mortgage, in writing, to make house buying easier. When you're ready to buy, you've got the solid financial backing of Kawartha Credit Union. All our pre-approved mortgages come with a 90-day protected interest rate-guaranteed!

Take Your Mortgage With You When You Sell

If you choose to sell and are moving within Ontario, you can take your existing mortgage balance, rate and term to your new property, or you can choose a blended rate to finance your new home.

Protect Yourself

Buying a home is one of the biggest investments you'll ever make. Let us help you protect yourself and your family from life's uncertainties with mortgage insurance.

Transfer your mortgage to Kawartha Credit Union

Our Mortgage Transfer Program makes switching your mortgage easy! Plus, we'll pay for the appraisal, legal fees and bank transfer costs. *Ask us about the complete details. *Some restrictions apply.

High-Ratio Mortgage

If your down payment is less than 20% of the property value, you’ll require mortgage default insurance offered by either CMHC, Genworth Financial Canada, or Canada Guaranty.

Mortgage Prepayment

If you choose to pay off your outstanding mortgage balance prior to your closed term maturity  date, or choose to pay an amount greater than the prepayment privileges outlined in your original mortgage documents, you will incur a Mortgage Prepayment charge.