A Guide to BCU Financial’s Mortgage Services

BCU Financial has various services to improve the life of the Ukrainian community in Canada. This list includes mortgage services so that every member of the community can acquire their own home. Our members consistently report high levels of satisfaction due to BCU’s dedicated service and attention to individual financial needs. Here is a brief review of BCU Financial mortgage services.

The process of obtaining a mortgage Buduchist’s Mortgage

Applying for a mortgage at BCU Financial is quite simple. The process consists of several steps:

1. Preparation of documents: You need to collect the necessary documents and get your credit report.
2. Mortgage application: Apply for a loan on the website or at the BCU office.
3. Pre-approval: Get a mortgage pre-approval so you can accurately calculate your budget for purchasing a home.
4. Property search: Find suitable housing and provide information about it to the credit union.
5. Final approval: Receive final approval of the transaction after the property appraisal.
6. Conclusion of the contract: If necessary, consult with an attorney and enter into a mortgage agreement with the credit union.

There are also separate procedures for renewing contracts and refinancing mortgages.

Types of BCU Financial’s Mortgage Services

BCU Financial received a license to issue mortgages to its participants back in 1955. Now four types of mortgages are available, each on reasonable conditions both for first-time home buyers and those looking for a great deal on refinancing:

• Fixed Rate: Mortgage with stable interest
• Variable Rate: Loan with interest dependent on changes in the Bank of Canada rate.
• Closed Mortgage: Mortgage with a maximum prepayment of 20%.
• Open Mortgage: Mortgage with the ability to pay the full amount at any time without penalties. Such a service has higher interest.

If you’re unsure which type of mortgage is right for you, you can read more about it at bcufinancial.com. You can easily reach out to BCU specialists online through the website, by phone, or by visiting the nearest branch for personalized assistance. They will guide you through all stages of applying for a loan.

Final Thoughts 

A mortgage from BCU Financial is a great way to rationalize your housing expenses. The company offers comfortable conditions for members of the Ukrainian community. By choosing BCU Financial, you get not only favorable conditions, but also the confidence of professional support every step of the way.