When you’re buying, building, or renovating your home, you’re looking for more than a mortgage. You’re also looking for a mortgage provider who will take the time to understand your needs and goals. That’s why we’ve developed a suite of lending products that provide specialized mortgage options. “Our goal is to find a customized solution that fits your lifestyle,” says Charlene Bart, Manager of Consumer Lending at SCU’s Lagimodiere branch.
With both vacation properties and mobile homes, we have specialized lending programs if you’re looking for a deal involving leased land. “We can set up these deals very efficiently,” Bart says. In these cases, we offer options to finance building projects on leased land — which are more difficult and costly to get through institutions that don’t specialize in those deals.
Another lending program is designed for those who are able to invest their own sweat equity in building projects. This is an affordable option if you have the skills to be your own contractor. Before approving a Self-Build Mortgage, our lending team assesses the project value, building costs, and in-kind value of the skills your will use during construction. “We look at that as a huge asset,” Bart says.
Finally, we have created a customized New to Canada Mortgage that focuses on newcomers who are professionals or business owners. “We don’t require traditional income confirmation,” Bart explains. “We look at the potential of the applicant. Often, they are professionals with capital for a down payment.” Given the rapidly growing population of highly skilled immigrants from all over the world moving to Manitoba, we have seen need for this kind of lending increase significantly.
Bart, who oversees a Consumer Lending team of 12 professionals located in Winnipeg, says that from what her lending team is experiencing, she’s not expecting much to change in the real estate market in the coming months. Although demand usually tends to slow down as winter approaches, especially for vacation properties, she points out, “There are no seasons right now.”
Interested in a mortgage at SCU? Call us at 1.800.728.6440 to schedule an appointment to meet with a lending specialist, who will help you explore all of your options. Or, you can get in touch with us online by filling out our contact form.