Housing Loan
Your Path to Homeownership Starts Here!
Owning a home is more than just a milestone; it’s a step toward security, comfort, and a brighter future. We understand that taking this big step can feel overwhelming, but with our housing loan services, you don’t have to do it alone. We’re committed to turning your dream into reality, offering solutions that are straightforward, accessible, and designed around your unique needs.
Whether you’re a first-time homebuyer searching for the perfect space to call your own, planning to build a custom home from the ground up, or renovating your current property to fit your evolving lifestyle, we’ve got you covered. Our housing loans offer flexible repayment terms, competitive interest rates, and a hassle-free application process to ensure your journey to homeownership is smooth and stress-free.
At every step, our goal is to empower you with the right tools and expert guidance. We’re not just providing loans; we’re partnering with you to build the life you’ve always envisioned. Let us help you take the first step toward creating a home you’ll love for years to come.
Loan Requirements
- 5% of the loanable amount (deductible)
- Appraisal Report
- Collateral: Land Title
- REM at Registry of Deeds / Land Title encumbered at RECEMPCO
- Salary Deduction
- 6% straight or flat
- Maximum loanable amount 70% of the appraised / market value of the property, not exceeding 5 Million
- Maximum term of 180 months or 15 years to pay.
-
Can I apply for a housing loan if I already have another loan with the cooperative?
Yes, but your application will be evaluated based on your repayment history, capacity to pay, and the cooperative’s policy on multiple loans.
-
Can I assign my housing loan to another member?
No, housing loans are non-transferable. The loan is tied to the borrowing member and their approved terms.
-
Can I pay off the loan early?
Yes, members can make early repayments. Please contact our office for details.
