Put the equity in your home to work for you with a Flex Mortgage. It allows you access to revolving credit which means you won't have to apply again in the future.
With a Flex Mortgage, you get the option to borrow only what you need, as you need it. It is a way to use your most powerful borrowing tool - your home. As you pay back the amount you owe, the credit available to you increases until it reaches your credit limit. It is available when you need it, through a variety of convenient options.
With a Flex Rate Mortgage:
You gain ongoing access to credit through a Revolving Portion, or you can pull all or a part of your outstanding balance from the revolving portion into a Term Portion.
Revolving Portion:
Borrow up to the credit limit1 of the Flex Mortgage and get a variable interest rate that changes with Prime Rate
As you pay down your outstanding balance, your available credit increases up to your credit limit
You can pay at your own pace without prepayment charges - pay as little as interest only or pay any or all of your outstanding balance at any time.
Mortgage Calculators
Our easy-to-use calculators can help you build a borrowing plan and determine your flexible payment options.
Maximum revolving portion cannot exceed 65% of the value of your home.
Payments can be made weekly, biweekly, semimonthly or monthly. Must meet certain approval conditions. Cost of credit and any fees associated with the loan will be disclosed at time of approval. Payments will vary depending on how each sub loan is set up. Sub loans may be open or closed with a fixed or variable interest rate. A TCU Financial Group chequing account is required for loan activation.
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