Mortgage Pre-Qualification

Discover your mortgage options while on probation with the OPP

For over 40 years the OPPA Credit Union has helped new OPP recruits with the purchase of their first home or relocating to their first postingThe OPPA Credit Union has the ability to pre-qualify you for a mortgage even while you are on probation.  Keep in mind that the probationary period for a recruit is a minimum of 16 months and most of our members would like to purchase a home when they start their new posting.  

We take great pride in understanding our members unique needs and therefore have structured our mortgages to better serve our members.

Consider an OPPA Credit Union Mortgage

Buying a Home?

Your OPPA Credit Union Financial Advisor will provide you with advice each step of the way, from helping you understand your mortgage options, to pre-qualification and all the way through finalizing your mortgage.
 

Mortgage Coming Up For Renewal?

If your mortgage is coming up for renewal at another financial institution, transfer your mortgage and we will cover the transfer fee.*
 

Fixed Rate & Variable Rate Mortgages

Your OPPA Credit Union Financial Advisor will provide you with advice on fixed versus variable rate mortgages.
 

Mortgage Pre-Qualification

If you’re thinking about buying or building a home, you should obtain a pre-qualified mortgage.  With a pre-qualified mortgage you will:

  • Know how much you can afford to purchase
  • Know what your payments will be
  • Receive a 90 day guaranteed interest rate at today’s rate (or lower if rates drop)

To begin your mortgage pre-qualification, complete the online mortgage application and your Financial Advisor will contact you to discuss further.

 

Benefits of Having an OPPA Credit Union Mortgage

Advice You Can Trust – Your Financial Advisor will provide you with advice each step of the way, from helping you understand your options, to mortgage pre-qualification and all the way through finalizing your mortgage.

Competitive Rates – we offer very competitive rates.

90 Day Interest Rate Guarantee – if you’re pre-qualified before buying your home, we’ll guarantee your rate for 90 days.

Pre-Payment Privileges – you may pay up to 20% of the original principal amount of your mortgage once a year.  You may also double up your payments on your regular scheduled payment dates without penalty.

Blend and Extend Your Mortgage – our members have the option to blend and extend their mortgage with NO penalty.  Most financial institutions don’t have this option, which makes us different.  Many financial institutions are not allowing their customers to blend and extend their mortgage.  The only option customers are given should they want to take advantage of the lower mortgage interest rates is to pay the penalty and renew their mortgage for another term.  In most cases, the customer would not receive any benefit by paying the penalty and taking out a new mortgage.


Tips

  1. While you are away for training you can authorize a friend, parent or spouse to speak to your Financial Advisor on your behalf.  They don’t have to be the decision maker but they can gather all the information for you.
  2. We offer specialized advice for duration postings.
  3. We work hand in hand with the relocation office and can provide specialized advice on the relocation process.
  4. When your mortgage payment is made with a payroll deduction you never have to worry about making the payment.

*The OPPA Credit Union will cover the transfer fee if your mortgage is assignable and you are not increasing your mortgage.  Terms and conditions may apply.