Skip to main content
Lending
 
Access the Money You Need to Achieve Your Big Life Goals
 


Residential Mortgage

 

Product Name

Variable Rate Residential Mortgages

Product Description

Residential Mortgage includes any loan to an individual that is secured by residential property (i.e. one to four-unit
dwellings), including the Home Equity Lines of Credit (HELOCs) noted in the Line of Credit section, equity loans and
other such products that use residential property as security for the purpose of purchasing, renovating and refinancing
up to 80% of purchase price or appraised value and being repaid in instalments against a mortgage on the property
purchase.

  1. Variable rate only; the interest rate usually is based on a fixed premium over or below the Prime Lending Rate.
  2. Open Mortgage within a maximum 36-month term: client has the privilege to exercise the options, including paying down principal by any amount, paying out the mortgage in full and converting to a new term, without having to pay interest penalties, though the client usually has to pay an application fee for an open term mortgage product.
  3. Closed Mortgage within 1 to 5 years term: client has the annual pre-payment privilege subject to maximum of 20% of the original principal, based on the anniversary of completion (not calendar year) but will be charged pre-payment penalty as the annual pre-payment exceeding 20%.
  • People with proven stable income and occupation, with creditability and good payment capacity.
  • Apply in person or through our approved mortgage brokers at any of our branches.
  • Two valid identifications, Income proof documents (latest 2 years), purchase agreement of the property, credit reports, Notices of Assessment for the past 2 years, tenancy agreements with post-dated cheques or bank statements, appraisal, etc.


Personal Line of Credit

 

Product Name

Personal Line of Credit (or Home Equity Line of Credit, HELOC)

Product Description

The is a revolving credit facility for the purpose of purchasing real estate, readily realizable investment, home
renovation, vehicle, etc. The amount of the limit will be based on income, assets and credit record. The line is revolving
within the limit and borrower does not need to pay any interest on any undrawn balance.

Available Currencies

CAD, USD

  1. Variable interest rate only; interest is calculated on a daily basis on the balance outstanding.
  2. Clients could use the equity in your home or your investment portfolio as collateral to secure a higher credit
    limit at a lower interest rate.
  3. The limit of a Secured Line of Credit is available up to a maximum of 65% of the value of your net equity in
    your home or +/- 65% against other collateral as security.
  4. The line will be subject to annual review for the purpose of monitoring of line utilization.
  5. ​Once you pay down your balance, no need to re-apply for re-advances.
  6. Flexible repayment plan and you can repay any principal at any time without penalty to minimize your
    interest costs, though a minimum monthly repayment will be determined by the bank from time to time.
  • People with proven stable income and occupation, with creditability and good payment capacity.
  • Apply in person or with our approved mortgage brokers at any of our branches.
  • Two valid identifications, Income proof documents (latest 2 years), purchase agreement of the property, credit reports, Notices of Assessment for the past 2 years, tenancy agreements with post-dated cheques or bank statements, appraisal, etc.

FOR MORE INFORMATION, PLEASE CONTACT US:

BRANCH ADDRESS BANKING HOURS
Vancouver Branch

2799 Granville Street, Vancouver, B.C. Canada V6H 3J1

(604) 683-3882

Monday - Friday

9am - 5pm PST

Richmond Branch

120-5911 No.3 Road, Richmond, B.C. Canada V6X 0K9

(778) 234-8700

Monday - Friday

9am - 5pm PST

Burnaby Branch

105-4501 Kingsway, Burnaby, B.C. Canada V5H 0E5

(604) 437-3868

Monday - Friday

9am - 5pm PST

Toronto Branch

28-505 Highway 7 East, Markham, ON Canada L3T 7T1

(905) 418-8869

Monday - Friday

10am - 4pm EST

 
SEE TODAY'S RATES

Rates are subject to change without prior notice. For Bank Notes, please consult with customer service.

 

Try Our Mortgage Calculator

Our mortgage calculator will help you determine how much you can afford to borrow and what your mortgage payments may look like.
 

Need Assistance?

If you have any questions, please don’t hesitate to contact us. Our team will be happy to help.
 
Invest and Grow Your Savings

Earning guaranteed interest, our term deposits are a great
way to grow your savings safely.
Find the Bank Account for You

Not everyone is the same. Our bank accounts are designed to match your goals.