Residential Mortgage

Competitive rates and conveniently structured repayment terms.

Residential Mortgages – Purchase

Theses loans are for a minimum repayment period of 25 years and attract rates of interest as indicated in Schedule 2 – Mortgage Interest rates. A Loan fee of 1% of the amount requested and a commitment fee of 0.5% is applicable. Loans are insured and has a maximum coverage of $300,000.00

Requirements

• 10% of request on Shares
• Letter of offer to sell or purchase agreement
• Copy of title document / Deed of Conveyance / lease
• Valuation of property by a valuator acceptable to Eastern Credit Union
• Up to date land and building tax receipts
• WASA clearance certificate
• Life Insurance Policy
• Home Owners Insurance Policy (to be submitted prior to disbursement).