Finance Your Home — Sensibly
The decision to purchase a home is the single biggest financial decision most people will ever make. It can be daunting, with so many decisions and so much money at stake. Mennonite Trust Ltd. can help make it easier however, with competitive interest rates and first-class service.
Mennonite Trust Ltd. can get make your home purchase a reality with as little as a 5% down-payment.
First-time home buyers will get the help you need, from determining mortgage costs, to factoring in other debt and costs. We respond personally to you, without needing to go through brokers or layers of bureaucracy.
We won’t turn you away just because your application may be a little outside the box. For example, we may well offer value considerations to those properties attached to farmland, or houses with alternative heat such as propane, or even off-grid power. Call us.
First Time Home Buyers Incentive
As of Sept 2, 2019, eligible first time home buyers who have the minimum down payment for an insured mortgage can apply to finance a portion of their home purchase through a shared equity mortgage with mortgage insurers such as Genworth.
There are a few qualifiers to apply for this incentive:
- you need to have the minimum down payment to be eligible
- your maximum qualifying income is no more than $120,000
- your total borrowing is limited to 4 times the qualifying income
If you meet these criteria, you can then apply for a 5% or 10% shared equity mortgage with the Government of Canada. A shared equity mortgage is where the government shares in the upside and downside of the property value.
MTL can facilitate the process and work through the advantages with you. For more information on the program, click here.
Not your first time? We can help you too
Are you in a home that’s too small, or too big? Are you looking for a fresh start in a new home? Mennonite Trust Ltd. can help you, with competitive rates and special options for your situation.
Do you need to move before you’ve sold your current home? Mennonite Trust Ltd. can help, with interest-only payments until you’ve sold your current home, to make life a little more bearable while you have two houses.
Perhaps you are looking for a second home? A rental property, or one for your adult children, or a summer home? One option here is to get a line of credit on your current home that covers the 20% down-payment on the second property. Or perhaps you have GICs not yet maturing — they can be used as security.
Are you looking to build your dream home? There are thousands of tasks that need to be juggled, from contractors and permits to flooring choices and kitchen layout. One thing that you don’t need to worry about with Mennonite Trust is how the bills are going to get paid.
Unlike some other lenders, Mennonite Trust will pay most bills as they come in, not only at certain stages in the building process. Simply bring the bill into our office and we’ll pay it directly – leaving you with happy contractors. You’ll be free to see to your dream home to completion.
Contact Mennonite Trust Ltd. today to find out why our builder’s mortgage clients are so thrilled.
Are you looking for financing options for that new car, boat, or RV? Or perhaps you are looking for funds for a vacation, or to pay down credit cards? Mennonite Trust Ltd. can help, with personal loans based on the value of security you have to offer.
The Difference Service Makes
Besides highly competitive interest rates you will find MTL responsive to your needs. We can handle mortgages up to $500,000 and see every client as important to us.
At Mennonite Trust Ltd. we don’t sell our loans to another institution. We manage each and every client personally. If you run into problems, we will make every effort to find a solution that keeps you in your home. We are a local company with many ties to the community and we want every story to be a success story.
To read more about our loans service click here.
To start your loan application online click here. Or, stop in at a local branch or give us a call at 306-945-2080.
Our friendly, professional staff will be pleased to answer any questions you have and get you started!