Conventional Mortgage
Your down payment must be 25% or more of the price of home. Taiwanese Credit Union can lend up to $548,497 per Residential Mortgage.
Terms:
- Close: 6 months ~ 5 years
Interest Rate Options: Fixed rate
Repayment Options: Weekly, bi-weekly & Monthly
Mortgage application document
Information that describes the property you are buying:
- Agreement of Purchase or Sale
- Closing Date
- MLS listing with photo-Market value
- Appraisal Value (If necessary, LTV > 75%)
Employment & Income Verification
- Copy of latest salary pay slip/employment letter
- Notice of Assessment for 1 year (Self-Employed for 3 Years)
- T4 Statement of Remuneration Paid / T1 General
Other information
- Proof of Down Payment
- Utility cost (or Condo fee)
- Other loans e.g., Car loans, student loans…
- Other Assets e.g., RRSP GIC TFSA Stock or Bond…statements or certificate
- Rental Agreement (If applicable)
- Name, address, email for fax number of members’ appointed solicitor/notary
- Credit Score Report (TCTCU Request from Equifax)
TCTCU reserves the right to change without notice