Caisse Financial Group mortgages are more flexible to better suit your life.
Discover the many flexible features that our mortgages can offer you.
Double a payment
You have the option of doubling up a mortgage payment anytime you want. Making an extra mortgage payment now and then will save you interest costs and get you mortgage free faster. All you have to do is tell us when you want to double up a payment – it’s that easy.
Pay down your mortgage faster
You have the option of making one lump sum payment, of up to a maximum of 20% of the original mortgage amount, anytime during the year, without penalty. Most financial institutions will only allow a lump sum payment on the mortgage anniversary date; we say, why not let you do it whenever you can.
Example: Bob and Sue’s mortgage amount was $200,000 when they bought their home. Anytime during the year, they can decide to make one lump sum payment not exceeding $40,000, without penalty.
Skip a payment
You have the option of skipping a mortgage payment should you need to. You just need to contact us to make the necessary arrangements. Please note that there are restrictions on the number of times a payment can be skipped if your mortgage is CMHC insured.
Add on to your mortgage
We can set up your mortgage so that you can add to it when you need to finance a car, home renovations or other larger purchases. No need to renegotiate a new mortgage, just contact us and we can pre-qualify you and afterwards it is as simple as signing the new paperwork, plus you only need to make one loan payment.
Move your mortgage
Want to buy a new home but your existing mortgage is not up for renewal yet? No problem. You can transfer your existing Caisse mortgage to your new home, without penalty using a blended interest rate, and add on the new financing amount.
Build a brand new home
If you are building new, we can help you with our flexible builder’s mortgage that advances the funds as construction progresses, which saves you interest costs.
Low down payment
Your down payment can be as low as 5% of the purchase price of your home when you apply for a CMHC insured mortgage. Or you can avoid the CMHC insurance premiums if your down payment is 20% or more of the purchase price of your home.
No appraisal required
We make it easier and less costly for you by waiving the requirement for an appraisal if:
- you transfer your mortgage from another financial institution with no advance of additional funds
- you are financing less than 65% of your purchase price (some conditions apply)
- your mortgage is CMHC insured