Life can be complicated, your mortgage shouldn't be
Real advice. Real flexibility. Real support.
At SCU, we know that a mortgage isn’t just a financial product, it’s a big step in your life. Our lending specialists will work with you to create a mortgage solution that fits your needs today and tomorrow. Whether you're buying, building, renovating, or renewing, we’ll walk you through your options, offer personalized advice, and guide you every step of the way. You deserve a mortgage built around your needs, your budget, and your goals.
From first-time buyers to experienced homeowners, we offer solutions made for you and your life. SCU's team of lending specialists take time to understand your complete financial picture, then help you build a mortgage plan that supports where you are today while setting you up for the future.
Instead of trying to fit into a mortgage, let your needs and goals guide your decision. A great place to begin is by making a list of your financial goals and ranking them by importance. Instead of trying to fit into a mortgage, let your needs and goals guide your decision. Whether you’re looking for competitive rates, seeking flexible repayment options, leveraging your home equity, or are new to Canada, we have a mortgage made for your life.
A good place to start is with the size of down payment you plan to make as it plays a big role in determining which mortgage option is right for you.
If you’ve saved 20% or more of your home’s purchase price, you may qualify for a Conventional mortgage, which offers competitive rates and doesn’t require mortgage default insurance. If your down payment is less than 20% (5% or more), a High-Ratio mortgage may be the best choice as it allows you to buy sooner but does require mortgage default insurance—an additional cost that’s added to your mortgage payments.
Specialized mortgage solutions
Sometimes, the right mortgage means thinking outside the box. That’s why we’ve developed a full range of specialized lending options:
Self-Build Mortgages: If you're acting as your own contractor, our Self-Build Mortgage can help turn your sweat equity into financial value. “We consider the in-kind value of your skills a huge asset,” says Nicole McAllister, Director Retail Sales at our Lagimodiere branch.
Contract-Build Mortgages: Hiring someone to build your dream home? Our contract-build mortgages are specifically designed for new builds of all kinds, along with plenty of options to help you finance the different stages of your project.
Mortgages for leased land: Whether you're buying a vacation home, mobile home, or building on land that is leased, we can help you structure the deal efficiently. SCU has built relationships with a network of professionals who can help you through the process. “Our long-standing partnerships provide our members with extra support and peace of mind,” adds McAllister.
New to Canada Mortgages: We believe that helping families is one way to make our community stronger. Our New-to-Canada mortgage supports you and your family with financial solutions that simplify your home buying journey. For skilled newcomers with capital but no traditional income confirmation, SCU looks at your potential—not just your paperwork.
Find the right mortgage for you
Flexibility in a changing market
With shifting interest rates and ongoing economic changes, today’s mortgage environment looks different than it did a few years ago. We offer practical tools and guidance to help you manage your mortgage with confidence. That includes repayment flexibility, longer amortizations, and interest-only options to ease financial pressure when needed.
“We’re seeing our members adapt. They’re paying more attention to Bank of Canada rate announcements and looking for flexible options that let them stay financially comfortable," says McAllister. "At SCU, we take a more flexible, personalized approach, working with every member to make sure your mortgage fits your needs today, and in the future," finsihes McAllister. And while borrowing costs have come down, McAllister feels many members are finding balance through strong deposit rates that support their overall financial picture.
Real support, every step of the way
A mortgage can be one of the biggest financial decisions you make. That’s why our lending specialists are here to help—not just with forms and numbers, but with personalized guidance, real advice, and solutions that support your long-term goals.
“Our members aren’t just asking about rates,” says McAllister. “They’re asking, ‘What’s the best path forward for me?’ And that’s exactly what we help them find.”
4 steps on your journey to home ownership
1. Save for your down payment
The first step is to determine how much you will need to save. Review your budget and evaluate your income and expenses to determine how much house you can comfortably afford. We can work with you before you’re even ready to buy to help you understand your budget, address any issues, and produce a strategy to pay down debt. Before your appointment, use our Home Affordability Calculator to determine how much home you can afford and then our Savings Goal Calculator to help you determine how much you’ll need to save to realize your dream.
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2. Get a pre-approval
Your pre-approval meeting is a crucial step in the home-buying process. During this meeting, a lending specialist will help you find the right mortgage solution, pre-qualify you for a maximum mortgage amount; and offer you a guaranteed rate for a set period of time while you look for the perfect home and protect you if interest rates increase. Understand the pre-approval process and use our checklist to help you prepare for your meeting with a lending specialist.
Learn about pre-approvals
3. Find your home
Once you’ve had your pre-approval meeting and are ready to start house hunting, the next step is to determine what you’re looking for in a home. This is a time to figure out what you need, and where you are willing to compromise. If you’re buying your first home, keep in mind that even if you can't get all your wants to start off with, you can continue to save up for them in the future.
4. Make an Offer to Purchase
An Offer to Purchase is a legally binding contract where you make the seller a formal offer to buy their home. In most cases, your realtor will prepare the Offer to Purchase, but in some instances, like a private sale with no realtor involved, it’s highly recommended you work with your lawyer to create one.
HOT TIP: A pre-approval is not a guarantee your financing will be approved once you choose to put an offer on a home. When submitting an Offer to Purchase, it’s a good idea to make your offer subject to approval of financing, even if you’re pre-approved.
Ready to take the next step?
No matter where you are in your homeownership journey, SCU is with you every step of the way. Let’s simplify the process, explore your options, and build a mortgage that truly fits your life.
Let’s start building your mortgage today
Call 1.800.728.6440 to schedule an appointment or Book an appointment
