Mortgages

One of the biggest dreams in many people’s lives is buying their first home. To do so often requires a mortgage, which will probably be the largest debt you will ever have. Therefore, it makes sense to shop carefully. When it comes to arranging the best possible mortgage package, you can count on Moya Financial. Each mortgage is custom-tailored to meet your specific situation and needs and offers flexible terms, rates, and repayment schedules.

Here are some of the features of mortgages at Moya Financial Credit Union:

  • Financing available up to 95% of the purchase price/appraised value
  • Competitive interest rates
  • Flexible payment schedules (weekly, bi-weekly or monthly)
  • Automatic payment from any financial institution
  • Amortization up to 25 years
  • Terms from six months to five years
  • Closed or open mortgages available
  • Mortgage life insurance available
  • Second mortgages available
  • Financing available for seasonal/recreational property
 

Pre-Approved Mortgages

When shopping for a home, the last thing you want to worry about is how big of a mortgage you will qualify for. We can take that worry away with a pre-approved mortgage. It’s the smart way to shop.

Based on the information you provide, we calculate how much you can afford to borrow, so you’ll know what price range is appropriate for you. When you find the home you want, you’re assured the financing is ready, subject to a satisfactory property appraisal.

We’ll also guarantee the current interest rate for you for a period of 120 days, so you don’t have to worry about possible rate increases. Of course, if rates go down we will give you the lower rate!

Types Of Mortgages

There are two types of mortgages available:

Open Mortgages
Perfect for people who are planning to sell their home in the coming year, or who are expecting to receive a large sum of money to use to pay down their mortgage. The mortgage can be paid in part or in full at any time without penalty.

Closed Mortgages
Ideal for people who want the security of a longer-term rate. Although it is closed, we offer attractive partial prepayment opportunities; among the most flexible in the financial community.