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
- 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).