Residential Mortgages

Your Flin Flon Credit Union has a variety of mortgage options to choose from depending on your needs and paydown preference.

Variable Rate Mortgage

This mortgage is best if you want the flexibility of paying extra funds down on your mortgage at anytime without restriction, if you are uncertain how long you will be keeping your mortgage or if you think interest rates in general may be dropping in the near future.  Currently these mortgages are sold at FFCU Consumer Prime Lending Rate plus 0.50%.

Fixed Rate Mortgage

Available in terms ranging from 6 months to 5 years these mortgages offer you the security and peace of mind of an unchanging principal and interest payment during the duration of the term and with today's historically low interest rate environment they make an attractive option.  You are able to make additional principal payments of 10% of the original principal each year without penalty.

Home Equity Line of Credit

Use the equity in your home to borrow at a great rate.  You can borrow up to 65% of the value of your existing home as a Line of Credit which floats at a variable rate and as you pay it down, you have the access to that available credit for future borrowing needs.  You may borrow against your remaining equity up to 80% of the appraised value of your home, but due to government legislation, at least 15% has to be locked into an amortized mortgage over a maximum of 25 years.  Talk to us today about details and how a Home Equity Line of Credit can provide you savings and convenience.

*Rental Properties and Assignments of Lease
We provide lending for the purpose of rental properties and the purchase of leased land in the provincial parks, although higher interest rates than the standard residential owner-occupied mortgage rate may apply in those circumstances.  We also may restrict the number of rental properties we will finance based on their size or value.  Talk to us today for full details.
**Special Mortgage Rates
The special mortgage rates listed on our website are for consumer residential owner-occupied properties. These rates are provided on a "as low as" basis and depending on the property type and purpose of the mortgage, the rate offered may be higher.  Rental properties, non-owner occupied properties or mortgages for the purposes of a debt consolidation may be offered at rates higher than the special mortgage rate indicated.  Please ask us for further details.