Have you decided to build your own house? TCU has the experience and expertise to guide you through this process.
- Both conventional and high ratio mortgages are available.
- If conventional, TCU may finance up to 80% of the home's value.
- Line of credit is included for any unexpected construction costs, subject to qualifications.
- Competitive interest rates.
- Repayment plans to suit your needs:
- Variable rate mortgage with interest only payments during the construction period, converted to a fixed rate mortgage upon completion or
- Fixed rate mortgage with regular payments
- Eligible properties are primary residences, cottage properties and residential revenue properties (dependant on location and other factors).
- Must meet certain approval conditions
- Cost of credit and any fees associated with the loan will be disclosed at the time of approval
- Maximum construction period is one year
- Maximum of four loan advances