604.873.6490 info@sharons.ca

HOME  >>  Personal  >>  Borrowing  >>  Mortgage Loan

Mortgage Loan (Term Loan)

What   Offers our members with a secured borrowing option for either their new home purchase or leveraging the equity in their existing home
Who   Personal Members
Period   Up to 25 years
Borrowing Limit   Up to C$1,000,000*

This product offers our members financing options with property acquisitions, investments, refinancing or property development.


Features and Qualifications
This secured financing solution with a straightforward process, assists our members in achieving their financial asset needs. With an easy, honest appraisal procedure, our members may be eligible to borrow up to 95% of the property value.
This product is available to business property owners and future owners who are eligible with regards to the lending criteria, guidelines, terms and conditions and fees.


Conventional Mortgage

Borrow up to 80% of either the Purchase Price or Appraised Value.


CMHC Mortgage Loan Insurance – High Ratio Mortgage

By applying for a Canada Mortgage & Housing Corporation Mortgage Loan Insurance, the possibility of borrowing up to 95% of either the Appraised Value or Purchase Price (whichever is lower) opens up for our members.  Mortgage Loan Insurance application acceptance is based on CMHC discretion.

CMHC Mortgage Loan Insurance Fee:

The premium payable is based on a percentage of the home’s purchase price that is financed by a mortgage. In the case of borrowing up to 95% of the property value, fee percentage may rise up to 3.60% of the mortgage amount. Fees are payable to CMHC.

Borrowed Amount CMHC Insurance Fees
75% 0.75%
80% 1.25%
85% 1.80%
90% 2.40%
95% 3.60%




Payment schedules are set up at product registration. Prepayment options depend on agreed terms and conditions. Penalties are applicable for prepayments outside agreed terms and conditions at the member’s expense.

*Credit scores play a role in eligibility, terms and limits in borrowing.

Please contact the closest branch to you today to either collect further details on any loan product or to set-up your loan interview with any of our qualified loan officers.

Branch Contact Info